Cairo – Mubasher: Telecom Egypt (TE) on Tuesday denied the suspension of an EGP 13 billion ($738.64 million) loan.
The loan measures are going on well as planned, the state's landline monopoly said in a statement to the Egyptian Exchange (EGX).
This came as a response to what has been published on Reuters earlier, as the London-based news agency claimed that the EGP 13 billion loan had been stopped.
In June 2017, TE’s board had signed an agreement with National Bank of Egypt (NBE), upon which the latest would be an agent for a joint loan worth EGP 13 billion.
