$ 250 million.. Offers for the purchase of "Masriya Telecom" towers

3 local and foreign companies are competing to buy the majority of the towers of the Egyptian Telecommunications Company in a deal that could be worth up to 250 million dollars.

  The sources said that the government company seeks to sell and re-lease 2500 communication towers out of about 2800 towers it owns.

  She added that the competing companies are "IHS Tower", "Moby Tower" and "Hailes Tower", and she is currently conducting a negative examination of the ignorance.

  According to the sources, the value of the transaction will range between 150 and 250 million dollars, depending on the results of the inspection, and the implementation is expected to be completed in the first quarter of this year.

Investments in the telecommunications sector

She explained that the company seeks to save the dollar, especially since investments in the telecommunications sector require huge numbers,

Explaining that the sale and re-rental of the towers is of interest to the local and international telecommunication companies as well.

  The company is studying the non-binding offers, to make sure they are in line with its long-term strategy, and that it should be presented to the company's board of directors during the current December meeting, in order to disseminate some of it to the shareholders.

And "Egyptian Telecommunications" during the period from January to September of this year, achieved a net profit worth 9.1 billion pounds despite the increase in financing costs 3.7 times, thanks to the improvement in operational performance and the increase in investment revenues by 67%, which amounted to 3.4 billion pounds.

And the company's combined revenues recorded 9.4 billion pounds during the first quarter of 2022 with a growth of 12% compared to the same period of the previous year, driven by the growth in data services revenues by 22% compared to the same period of the previous year, where it represented 74% of the total growth in revenues, followed by with the increase in cable revenues and voice services.

"Fodafone Misr" company

In a related context, "Naim Securities Trading" researched the fair value of the share of the Egyptian Telecommunications Company, based on the possibility of the company completely withdrawing from its 45% stake in the "Fodafone Misr" company for an expected amount of $1.1 billion, with recommendations for the purchase of the share, in the last report Issued to her on December 13, 2023.

Also, the fair value situation was also based on the possibility of a decrease in the value of the pound, in 2024, in addition to the potential increase of 10% in the number of mobile phone and internet users, provided that the percentage of increase in revenues is 18.3% per year, and that the profitability per share increases by 19.5% annually.