“The investment will be financed from existing fund of Vodafone Egypt which is owned by Vodafone UK and Telecom Egypt ,” said the recently appointed Chief Executive, Ahmed Essam.
Vodafone is also checking the possibilities of offering landline
services which is expected to cost LE100 million ($13.9 million).Telecom Egypt has also been giv to sell its 45 percent stake in Vodafone Egypt after the unified license is activated.
The telecommunication unified license will allow mobile operators provide both fixed line and mobile network services. Telecom Egypt currently has a monopoly of the fixed line market.
Vodafone Egypt, Etisalat Egypt and Mobinil are the three existing mobile service providers.
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