Telecom Egypt expects favourable ruling on interconnect fees

Telecom Egypt is expecting a favourable ruling from an arbitration panel in January that will result in an inflow of EGP 8.8 billion (USD 1.46 billion), Zawya reported. Its case concerns a dispute with Mobinil and Vodafone over interconnection fees pending since 1998 and is being considered by Cairo Regional Centre for International Commercial Arbitration. Telecom Egypt has not included the sum in its financial reporting for the third quarter of 2011. Hassan Helmy, Senior VP for Financial Affairs, told Zawya that it will be included as soon as Telecom Egypt receives the favourable ruling. Helmy added that Telecom Egypt's investment plan will be announced at the board of directors' meeting in the last week of December. It will include at least EGP 3 billion to develop networks and upgrade existing ones to provide broadband.