Telecom Egypt is set to become the country’s fourth mobile carrier after acquiring a 4G license Wednesday as the state-controlled landline monopoly seeks to keep up with rivals.
The carrier, 80 percent owned by the government, bought the license for 7.08 billion Egyptian pounds ($806 million), Chief Executive Officer Tamer Gad Allah said at a news conference in Cairo. The company will begin trial operations within six months of receiving its frequencies.
