MobiNil in discussions over EGP2.5bn loan

29 Aug 2013

Egyptian Company for Mobile Services (MobiNil), the country’s second largest cellular network operator by subscribers, is said to be negotiating a EGP2.5 billion (USD357 million) syndicated loan with four banks. Citing a statement made by the cellco to the stock exchange yesterday, Ahram Online claims that, should it obtain the funds, they would be used for expansion purposes.

As noted in TeleGeography’ GlobalComms Database, at the end of March 2013 MobiNil accounted for around 35% of the country’s mobile subscribers, with its customer base standing at 32.94 million at that date, up from 32.63 million a year earlier.

Egypt, Orange Egypt