Etisalat Egypt to increase network upgrade investments to EGP 3.5 bn from EGP 2.5 bn

INVESTMENT WATCH- Etisalat Egypt to invest an extra EGP 1 bn in network upgrade upgrades: Etisalat Egypt is investing EGP 3.5 bn in network infrastructure upgrades this year, o about EGP 1 bn more than originally forecast to keep pace with demand for mobile data services, Chief Corporate Affairs Officer Khaled Hegazy tells Al Mal. The decision was driven by an uptick in the number of mobile internet users, especially after Telecom Egypt’s WE broke into the mobile market late last year, Hegazy explained, adding that upgrades are necessary to sustain the growing number of subscribers. The story provides no further background or color.