Orange to pay TE EGP 72 mn to settle connectivity and infrastructure dispute

The board of Orange Egypt has approved a settlement agreement with Telecom Egypt (TE), according to a bourse statement. Orange will pay TE c. EGP 72 mn to resolve a dispute over local and international connectivity and infrastructure services. The Government Accountability Office had flagged issues relating to TE’s inadequate provisioning in a number of issues including major court disputes in a limited audit last September.