TE and Airtel finalize agreement granting Airtel right to use TE’s cable systems

Telecom Egypt (TE) and Indian telecom company Bharti Airtel signed yesterday the final contracts for a partnership agreement that will grant Airtel permanent indefeasible right of use the TE North Cable and recently-acquired MENA subsea cable systems, according to a press release (pdf). TE is expecting to generate cash inflows of USD 90 mn from the agreement this year, and earn 4% more y-o-y over the contract’s 15-year term. The two sides signed the initial contracts last August.