Cairo – Mubasher: Telecom Egypt (TE) has signed an agreement with Talaat Moustafa Group Holding (TMG Holding) to launch new services for smart cities and digital communities.
Upon the deal, both firms will provide current and future smart cities with the latest technologies in the telecommunication and information technology, the telecom firm said in a filing to the Egyptian Exchange (EGX) on Wednesday.
This step comes within the framework of TE’s strategy to achieve digital transformation and turn Egypt into a regional hub for data and a main internet platform for smart solutions, according to the filing.
In September, TE announced that its board approved the acquisition of 50% of its subsidiary Egyptian International Submarine Cable Company “EISCC” at a value of $15 million.
In August, the state's landline monopoly said it entered a strategic partnership with India’s market leader Bharti Airtel for global submarine cable systems.
The deal would allow the Indian telecom firm the indefeasible right of use (IRU) on Middle East North Africa Submarine Cable (MENA Cable) and TE North Cable Systems.
