China Mobile Intl & TE Forge Strategic Partnership
China Mobile International and Telecom Egypt Forge
Strategic Partnership
Hong Kong, 24 December 2024 - China Mobile International (CMI) and Telecom Egypt have announced a strategic commercial agreement signed by Mr. Wang Hua, Chairman and Chief Executive Officer of CMI, and Mr. Mohamed Nasr, Managing Director and Chief Executive Officer of Telecom Egypt. This landmark commercial agreement capitalizes on both companies' investments in subsea cable infrastructure and resource sharing to address the rapidly growing data needs of businesses and consumers worldwide. This partnership also includes a suite of innovative, enterprise-grade digital and business services tailored to meet the dynamic needs of enterprises in Egypt and across the region.
This strategic agreement marks the deepening of the relationship between CMI, a wholly owned subsidiary of China Mobile-renowned for operating the world's largest network, serving the largest customer base, and leading in profitability, brand value, and market rankings-and Telecom Egypt, the total telecom services provider in Egypt and one of the largest subsea cables operators in the region.
A key element of this partnership is the international infrastructure commercial agreement, which centers on expanding the global reach of both companies, reinforcing their shared commitment to delivering high-quality, uninterrupted services in an increasingly interconnected world. This transaction strengthens the diversity and resilience of both companies' networks by providing additional routes across segments of their respective cable systems delivering more reliable connectivity services. As such, the collaboration unlocks additional value and reflects a cost-effective approach underscoring their devotion to developing robust network infrastructure worldwide.
Furthermore, by combining CMI's advanced digital solutions with Telecom Egypt's robust nationwide infrastructure, extensive market expertise, and widespread regional reach, both organizations will explore customized DICT (Digital, Information, Communication, and Technology) solutions to advance smart services for enterprises, aiming to empower businesses with scalable solutions that drive digital transformation and reinforce their positions as leaders in the enterprise services market.
CMI and Telecom Egypt will continue to leverage their resources and expertise to boost services for global enterprises and consumers and accelerate digital economy development, creating greater economic benefits and societal value.
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About China Mobile International Limited
China Mobile International Limited (CMI) is a wholly owned subsidiary of China Mobile. In order to provide high-quality services to meet the growing demand in the international market, China Mobile established CMI in December 2010, headquartered in Hong Kong, China. CMI has expanded its footprint in 39 countries and regions. Leveraging the strong support by China Mobile, CMI is a trusted partner that provides comprehensive international information services and solutions to enterprises, carriers and mobile users. please visit www.cmi.chinamobile.com
About Telecom Egypt
Telecom Egypt is a total telecom services provider in Egypt that provides a wide array of services to a diverse customer base. Serving individuals, communities, SOHOs, SMEs and large enterprises, Telecom Egypt offers a comprehensive, innovative, and diversified portfolio of services, ranging from fixed and mobile voice to essential data solutions crucial in today's digital landscape. These services also include high-speed internet, smart solutions, data center facilities, and cloud computing solutions tailored for businesses.
With a rich heritage of about 170 years, Telecom Egypt continues to lead the Egyptian telecom market by providing cutting-edge technology, robust infrastructure, and an extensive network of subsea cables to meet the needs of its enterprise and consumer clientele. The company's pivotal role in Egypt's telecommunications landscape is underscored by its expansive network coverage, broad service range, and dedication to fostering innovation. Aside from its mobile operation "WE", Telecom Egypt holds a significant 45% ownership stake in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Egyptian Exchange and the London Stock Exchange.
For more information, contact:
The investor relations team
Email: investor.relations@te.eg
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