Cairo – Mubasher: Telecom Egypt, the country's state-owned landline monopoly, said its board of directors gave a nod to apply for the 4G license, as well as complete the related negotiations
The operator said it will pass the decision to the investment committee to discuss it and make the final decision.
Telecom Egypt said earlier it is in talks with banks to secure EGP 5 billion loan to acquire the 4G licence.
The sale of 4G licenses is part of a long-awaited plan to reform Egyptian telecoms. The reforms will potentially allow Egypt's land-line monopoly, TE, which owns a 45% stake in Vodafone Egypt, to enter the mobile phone market directly.
It will also allow mobile operators to offer fixed line services, ending Telecom Egypt's dominance.
