January 21, 2021

Telecom Egypt's FV estimated at EGP 16.22/share: Pharos

ArabFinance: Telecom Egypt will provide the beneficiaries of Takaful a Karama (Solidarity and Dignity) program with 3.5 million mobile SIMs.

The support includes a bundle of minutes, text messages, and megabytes per month at a nominal cost.

Pharos Holding estimated the fair value (FV) of Telecom Egypt's share at EGP 16.22 per each, with an overweight recommendation.

The company believes that there is no room to advance dividends beyond the EGP 0.25/share. Priority goes to deleveraging and then dividends payment which should hopefully be at the end of 2021, Pharos said.

Telecom Egypt is an Egypt-based joint-stock company, which is engaged in the provision of public communications and associated products and services.

The company operates under the following segments: communications, marine cables, and infrastructure; internet services, as well as outsourcing services. It offers a range of fixed-line and retail telecommunications services, as well as wholesale telecommunications services.

Categories : telecom

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