News
Telcos announce resolution to series of legal disputes dating back almost a decade
Telecom Egypt and Orange’s local unit have reached a final settlement in series of long-running disputes over interconnection and related issues.
The pair inked an agreement on Wednesday, Telecom Egypt announced.
The agreement resolves all disputes between the telcos around interconnection, infrastructure and international gateway services, covering a period from 2008 to October this year, the telco said.
Telecom Egypt will record an additional 49 million Egyptian pounds (€2.3 million) in revenue in the fourth quarter of this year as a result of the deal, as well as a non-cash charge of EGP225 million, however the net positive cash flow to the telco will reach EGP74 million (€3.5 million), it said.
Ahmed El Beheiry, group CEO of Telecom Egypt, said he was pleased his company had been able to work with Orange to reach a deal.
"This marks the complete resolution of the longstanding legal disputes with Orange," El Beheiry said.
"The settlement agreement strengthens our collaboration and paves the way to the framework we will agree on in the future," he added. "We look forward to expanding our business relationship with Orange."
