Telecom Egypt and Orange Egypt have settled a series of long-term disputes by signing a 'Final Settlement Agreement' that brings an end to their legal feud.
The operators says the agreement "will settle all the pending
disputes related to interconnection, infrastructure and international gateway services ... The agreement marks the complete settlement of all pending disputed amounts between Telecom Egypt and Orange Egypt covering the period from 2008 to October 2017 relating to interconnection,
leased lines and international services."
As a result of the agreement, Telecom Egypt says it will, as part of its fourth quarter 2017 financial report, book additional revenue of 49 million Egyptian pounds (US$2.8 million) and an impairment to receivables of EGP 225 million ($12.7 million), though the latter is "a non-cash charge and the settlement agreement in fact will lead to a net positive cash flow to Telecom Egypt of EGP 74 million [$4.2 million]."
"We are pleased with the resolution of our dispute and the settlement achieved, which was enabled by the mutual cooperation between Telecom Egypt and Orange," noted Ahmed El Beheiry, Group Chief Executive at Telecom Egypt. "This marks the complete resolution of the longstanding legal disputes with Orange. The settlement agreement strengthens
our collaboration and paves the way to the framework we will agree on in the future. We look forward to expanding our business relationship with Orange."
Telecom Egypt Group Chief Executive Ahmed El Beheiry: "We are pleased with the resolution of our dispute."
Jean Marc Harion, Orange Egypt's CEO, stated: "We believe that this agreement is in the best interest of OEG's shareholders as it resolves all outstanding disputes with Telecom Egypt and removes the uncertainty and distraction of prolonged litigations."
Connecting Africa's 'Cloud Evolution in Africa' webinar revealed that cloud services are a game changer for Africa and without adequate access to these services, digital transformation loses some of its depth and meaning.
The introduction of 4G mobile broadband services across Africa has been transformative for individual users, businesses and economies, as well as the continent's mobile operators, but now the world is getting excited about the potential of 5G.
This webinar looks at the evolving role of 4G across Africa and how 5G will play a role in the development of digital, connected economies.
This webinar is part of the Connecting Africa Digital Series, which is produced in association with AfricaCom.