Telecom Egypt has signed a memorandum of understanding (MoU) with Etisalat Misr to provide the latter with ‘virtual fixed voice services’, confirming via a press release that the MoU ‘covers all the basic terms that shall allow both companies to formalise a commercial agreement in due course’. Under the deal, Telecom Egypt will enable Etisalat Misr to provide its customers with fixed voice services over the fixed line incumbent’s nationwide network, in a tie-up it says represents ‘a major step towards enhancing cooperation between both companies and achieving mutual benefits, which will in turn enrich the Egyptian market with the diversification of offers and services’. For its part, Etisalat Misr will benefit by being able to provide its customers with a fixed voice offering, while Telecom Egypt expects to boost revenues generated as a result of the increase for its domestic wholesale business.
Commenting on the matter, Ahmed El Beheiry, Telecom Egypt’s managing director and CEO, said: ‘We are proud to have signed this MoU with Etisalat Misr, which reflects the real opportunities in the Egyptian telecom market and strengthens our strategic partnership and mutual commercial cooperation.’ Meanwhile, Hazem Metwally, Etisalat Misr’s chief executive, added: ‘We are pleased to have signed the MoU with Telecom Egypt, which is a true addition to both companies and fosters our mutually beneficial cooperation. As a result of this agreement, Etisalat Misr will become a total telecom operator offering both voice and data services to its mobile and fixed customers. This will allow us to serve all our customers’ needs through one operator and provide the highest quality possible given Etisalat Misr’s advanced network and latest technology.