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| Jean Marc Harion |
Orange Egypt has launched a significant investment
plan including the acquisition of a 4G license and a massive 4G rollout. The
Orange Group is committed in the long run in Egypt and is very proud to
participate to the strong development and the ambition of the company, which is
to increase the level of service towards our customers and to strengthen our
digital leader position in Egypt. The investments made by Orange Egypt in 2016
and 2017 have been supported by Orange Group, which made available a dedicated
financing to the company through €750m loans.
In the context of the timeline for the 4G acquisition,
a shareholder loan, provided at market conditions, was the only way to get this
financing in due time start rolling our 4G network as soon as possible.
In this perspective, Orange Egypt wants to keep all
options open. The approval of our interim accounts, in which figures the
shareholder loans, is a preliminary step to activate one of the available
options in due time.
No decision has been taken at this stage. However
discussions have been initiated with the relevant market authorities and Orange
Egypt will get formal shareholders’ approval on the decided plan in accordance
with applicable laws and corporate governance. As it always the case, we want
to be totally fair towards all our shareholders.
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