A Vodafone official reveals the fate of the retained earnings to Telecom Egypt after purchasing the frequencies

Engineer Ayman Essam, head of the governmental and external relations sector at Vodafone Egypt, said that the company’s purchase of new frequencies with a value of $ 540 million contributes to improving the level of service provided to customers as well as maximizing the company’s revenues and its market value, indicating that with regard to the company’s retained earnings, they are fixed in the company’s financial statements at the end of the year The past can be used to finance new investments, which maximizes the value of the company and thus raises the return to shareholders, including Telecom Egypt.

This came in a press conference held by Vodafone today, Sunday evening, at a Cairo hotel, in the presence of Mohamed Abdullah, the company’s CEO, in his first appearance since he assumed responsibility.

The ownership of Vodafone Egypt is distributed among the Vodafone International Group, and it acquires the largest share with 55%, Telecom Egypt with a share of less than 45%, and other investors with limited proportions.

The financial statements of Telecom Egypt revealed the balance of retained earnings with Vodafone Egypt until June 30, 2020, amounting to 3.255 billion pounds, after the company got about 5.5 billion pounds in two installments of its total share in the profits withheld with Vodafone according to the agreement signed between the two parties. In February 2019.

Vodafone Egypt acquired new frequencies of 2 x 20 MHz with TDD technology at a value of $ 540 million, while Telecom Egypt acquired frequencies of 2 x 10 MHz with TDD technology at a value of $ 305 million.

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

– .

Related posts:

The first Bulgarian e-car will be released in 2023 (GALLERY)

Declaration of Yazidi personalities on the Shengal Agreement

Best of Thailand Stock Market in 2020, Covid Crisis, Volatility

Man Arrested for Attempting to Hitch a Ride on a Train at Central Station: Military Police