Telecom Egypt is in talks with three local and foreign companies for the potential sale and lease-back of a portion of its tower portfolio, with bids ranging from $150m to $250m. Selling and leasing back towers has become a popular strategy for telecom companies worldwide, offering a cost-effective alternative to outright ownership. Adding to the positive financial outlook for Telecom Egypt, Naeem Securities Research recently raised the company’s fair share value. Telecom Egypt’s financial performance remains strong, despite a 3.7-fold increase in financing costs during the first nine months of 2023. This growth was driven primarily by a 22% rise in data services revenue, which now accounts for 74% of the company’s total revenue growth.

Source: Daily News Egypt December 18, 2023 07:03 UTC