TechInAfrica — Telecom Egypt has just announced the 50% acquisition of its subsidiary Egyptian International Submarine Cable Company (EISCC) with a value of US$15 million. In August, Telecom Egypt had also signed the MoU with Bharti Airtel allowing Telecom Egypt to bundle assets of its international network with assets on MENA Cable. The deal will also enable Telecom Egypt to recover its whole investment in MENA Cable. The Managing Director and Chief Executive Officer, Ahmed El Beheiry gave his opinion about the acquisition of MENA Cable. Today’s settlement marks the second fully owned submarine cable by the Telecom Egypt into TE North.”

Source: The North Africa Journal September 28, 2018 00:56 UTC