Telecom Egypt in loan talks to fund 4G licence

Telecom Egypt, the country's state-owned landline monopoly is in talks with banks regarding a 5 billion Egyptian pound (US$563.07 million) loan to acquire a 4G licence, banking sources told Reuters on Thursday.

The sources said Etisalat Egypt is also in talks with banks for a 5 billion pound loan to acquire the licence.

The sale of 4G licences is part of Egypt's long-awaited plan to reform the telecoms sector. Saudi Telecom, Kuwait's Zain, China Telecom and a European firm have expressed interest in the licence.

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