Telecom Egypt and Etisalat Misr have formally announced they have signed a memorandum of understanding (MoU) to provide the latter with virtual fixed voice services. The agreement, which represents the first of its kind in the Egyptian market, covers all the basic terms that shall allow both companies to formalize a commercial agreement in due course. Under this MoU, Telecom Egypt through its nationwide fixed network will enable Etisalat Misr to provide its customers with fixed voice services.
The signing of this MoU has been described as a major step towards enhancing cooperation between both companies and achieving mutual benefits, which will in turn enrich the Egyptian market with the diversification of offers and services.
Etisalat Misr will benefit from this MoU by providing its customers with fixed voice services, while Telecom Egypt will enhance its revenues generated from the domestic wholesale business supported by the increase in Etisalat Misr's customer base.
Ahmed El Beheiry, Managing Director and Chief Executive Officer, commented:
"We are proud to have signed this MoU with Etisalat Misr, which reflects the real opportunities in the Egyptian telecom market and strengthens our strategic partnership and mutual commercial cooperation. Telecom Egypt began to reap the benefits of the major investments in developing its infrastructure and increasing its network coverage within Egypt. Such investments continue to have a positive impact on the quality of services that we provide to our customers (consumer, enterprise, and other operators) and confirms our keenness to provide the best to the Egyptian market."
Hazem Metwally, Chief Executive Officer of Etisalat Misr, commented:
"We are pleased to have signed the MoU with Telecom Egypt, which is a true addition to both companies and fosters our mutually beneficial cooperation. As a result of this agreement, Etisalat Misr will become a total telecom operator offering both voice and data services to its mobile and fixed customers. This will allow us to serve all our customers' needs through one operator and provide the highest quality possible given Etisalat Misr's advanced network and latest technology."