Arab Finance: The National Telecom Regulatory Authority (NTRA) has approved Telecom Egypt's (ETEL) financial and technical offer to obtain new frequencies of 5-megahertz (MHz) within the 1800MHz band using the frequency division duplex (FDD) technology, according to a press release on January 31^st.

Telecom Egypt got the new spectrum package as per a usufruct system for 10 years at a cost of $125 million, which is a competitive price compared to the frequencies the company acquired in late 2020.

“This additional package will enable us to continue providing competitive and highly-efficient connectivity while accommodating the rapid expansion of our mobile customer base,” Managing Director and CEO of Telecom Egypt Adel Hamed said.

“We intend to leverage our licenses to deliver value that meets the aspirations of both businesses and customers, while also providing cost efficiencies for the company and maximizing shareholder value,” he added.

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