Telecom Egypt and Vodafone Egypt (which is 44.95% owned by Telecom Egypt) have signed an agreement for the provision of wholesale telecommunications services.

The agreement, which builds on a pre-existing relationship, takes immediate effect and is expected to represent a total value for Telecom Egypt (TE) of approximately EGP 4 billion (US$739 million) over the next three years.

The deal comprises two distinct elements: Utilizing TE international gateway services to transit all Vodafone Egypt (VFE) customers incoming and outgoing international traffic plus relying on TE extensive domestic network for all VFE infrastructure leasing needs.

Eng. Hatem Dowidar, CEO of Vodafone Egypt said: "Ensuring a consistent and high quality service for our customers is paramount to VFE. Signing this new agreement with TE is yet another step in our ongoing efforts to achieve our objectives and maintain leadership in the market. We are happy with our strategic partnership with TE and together we are always working on offering the market with the best and highest quality services. I would like to seize this opportunity to acknowledge the great efforts of the NTRA. Their cooperation and dedication have been pivotal in closing this agreement."