Cairo – Mubasher: Orange Egypt, the country's second-largest mobile operator, said its ordinary general meeting gave a nod to obtaining EUR500 million backup line of credit from its mother company to finance the cost of purchasing the fourth-generation mobile phone services license.
The loan duration will be four years and with due in 21 December 2020 with annual interest rate of 7%.
Earlier, Orange Egypt signed a $484-million agreement with the national telecom regulator to obtain the 4G license.
The National Telecommunications Regulatory Authority (NTRA) has agreed to provide Orange with new terms that increase the speed of 4G to 2x10 MHz as opposed to the 2x2.5MHz to 2x5MHz initially offered.
