Orascom Telecom Media and Technology Holding (OTMT.CA) announced in a statement on Sunday that no final agreement has been reached yet with Telecom Egypt (TE) (ETEL.CA) as regards its long submarine communications cable system Middle East and North Africa for Sea Cables (“MENA”).
OTMT further added that it continues talks with TE to acquire the cable in line with its strategy.
Egyptian Minister of Communications and Information Technology Atef Helmy confirmed that an agreement has been reached with OTMT as regards its submarine cable MENA. He added that the remaining part of the cable inside the Egyptian territory will be linked to Telecom Egypt.
Karim Bishara, CEO of OTMT had previously asserted to Amwal Al Ghad that the firm will not sell its long submarine communications cable system Middle East and North Africa for Sea Cables (MENA). He indicated that OTMT plans to continue its investments in MENA cable despite the current obstacles in Egypt.
Bishara added that the OTMT is currently in talks with the Egyptian Ministry of Information and Communication Technology (MCIT) to resume the work on the submarine cable directly or to go into a partnership with Telecom Egypt.
Bishara also said the MENA cable extends over 8800 km linking Italy, Saudi Arabia, Oman and India, passing through Egypt. The cable infrastructure, together with the existing cables, covers current and future international communications requirements between Egypt, the Arab World & India and Europe, reducing the cost of these services for the Egyptian user, and further providing alternative paths to circumvent internet outages.