Cairo - Mubasher: Prime Research set the fair value of Telecom Egypt (TE) at EGP 11.34, with 20.6% expected yield, recommending ‘Buy’.
The research company stated that higher investment profits support the positive evaluation of the company.
Prime noted in a research report that the achieved profits resulted from sharing in Vodafone reached EGP 716 million in the first half of 2016, with a 68% increase.
TE closed at EGP 9.40 on Thursday, losing 1.36%, exchanging 5.03 million shares at a value of EGP 48 million.
