Egypt: Fixed Line Operator to Invest $450 M to Upgrade Infrastructure

Staying in the Egypt, the country’s fixed-line monopoly plans capital expenditure of 450 million US dollars in 2015. Telcom Egypt says the money will be spent mainly on upgrading its network. While this massive investment is planned, the firm reported a 31.4 percent slump in profits for 2014 – citing operational costs related to license fee payments and tax liabilities. The Egyptian government owns an 80 percent stake in Telecom. Yasser Hakim reports