Cairo – Mubasher: The Egyptian Exchange's (EGX) telecommunications sector saw an intense trading activity after Egypt-based three cell phone operators signed fourth generation licenses agreements.
The telecom sector recorded a 2.15% rise by 12:30pm Cairo local time (CLT).
Orange Egypt was placed at EGP 109.4 with a 10% rise after 7,100 shares were traded.
Telecom Egypt increased 1.2% to EGP 8.8 with 900,000 shares changed hands.
With 9.3 million at EGP 49 million, Global Telecom added 0.8% to EGP 5.2 per share.
The only stock laid in the red zone was Orascom Telecom after falling 1.8% to EGP 0.55 with 23.66 million traded shares.
Vodafone Egypt and Etisalat have officially sealed a $693 million agreement with the Egyptian government to purchase fourth-generation (4G) mobile phone service licenses.
Earlier, Orange Egypt signed an agreement with the telecom regulator to acquire the license at $495 million.
