MobiNil denies late 3G licence payment claims

13 Jan 2010

Egyptian mobile operator MobiNil has denied recent claims that it is late in paying the January instalment for its 3G licence, Reuters reports. MobiNil CEO Hassan Kabbani said of the matter: ‘The payment is ready and we can do it at any time,’ while also noting that the payment would be made once spectrum and other information relating to the concession had been received by the cellco. Earlier this week local news sources had claimed that the mobile operator had fallen behind with its EGP750 million (USD138 million) payment, which was due on 1 January.

Meanwhile, with MobiNil currently undertaking the sale of EGP1.5 billion in bonds, Kabbani noted that, while the bulk of the proceeds would fund the operator’s 3G licence and network expansion, a portion of the money raised may be used to purchase an internet company, although the executive gave no further details.

Egypt, Orange Egypt