{"id":624965,"date":"2018-09-24T04:31:56","date_gmt":"2018-09-24T04:31:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/24\/te-to-acquire-additional-stake-in-eiscc-for-usd-15-mn-gaining-full-control-over-mena-submarine-cable\/"},"modified":"2018-09-24T04:31:56","modified_gmt":"2018-09-24T04:31:56","slug":"te-to-acquire-additional-stake-in-eiscc-for-usd-15-mn-gaining-full-control-over-mena-submarine-cable","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/24\/te-to-acquire-additional-stake-in-eiscc-for-usd-15-mn-gaining-full-control-over-mena-submarine-cable\/","title":{"rendered":"TE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable"},"content":{"rendered":"

<\/a> **#5<\/strong> M&A WATCH- TE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable: <\/strong>Telecom Egypt (TE) announced yesterday that its board of directors approved the acquisition of an additional 50% stake in its subsidiary the Egyptian International Submarine Cable Company (EISCC) for USD 15 mn. The move should allow TE to consolidate fully revenues from MENA Cable, which EISCC recently acquired from Orascom Investment Holding in a USD 90 mn transaction, according to a company press release (pdf)<\/a>. \u201cThe completion of today\u2019s transaction marks the second fully owned submarine cable by Telecom Egypt in addition to TE North,\u201d said TE CEO Ahmed El Beheiry.<\/p>\n","protected":false},"excerpt":{"rendered":"

**#5 M&A WATCH- TE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable: Telecom Egypt (TE) announced yesterday that its board of directors approved the acquisition of an additional 50% stake in its subsidiary the Egyptian International Submarine Cable Company (EISCC) for USD 15 mn. The move […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624965","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"eeaf38dc-503e-4c8f-914f-6a3405f62725","order":"0","is_powered_by":true,"section_story_id":"fbc8dd13-3a97-4893-916a-46fe40123a7e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624957],"teaser":"","voice_url":""},"yoast_head":"\nTE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/24\/te-to-acquire-additional-stake-in-eiscc-for-usd-15-mn-gaining-full-control-over-mena-submarine-cable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable\" \/>\n<meta property=\"og:description\" content=\"**#5 M&A WATCH- TE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable: Telecom Egypt (TE) announced yesterday that its board of directors approved the acquisition of an additional 50% stake in its subsidiary the Egyptian International Submarine Cable Company (EISCC) for USD 15 mn. 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Telecom Egypt has reportedly submitted an offer to acquire MENA Submarine Cable Systems (MENA) from Orascom Telecom Media and Technology (OTMT), unnamed government officials tell Al Borsa. TE is looking to link MENA\u2019s cables with its own TE North\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631879,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/29\/looks-like-te-might-be-going-after-otmts-mena-cables-after-all\/","url_meta":{"origin":624965,"position":1},"title":"Looks like TE might be going after OTMT\u2019s MENA Cables after all","author":"enterpriseam admin","date":"29 March 2018","format":false,"excerpt":"M&A WATCH- It looks like TE might be going after OTMT\u2019s MENA Cables after all. Telecom Egypt said it is trying to arrange financing for a potential investment opportunity in submarine cables. The state-run telecom operator is planning to reduce its proposed dividends to shareholders this year, to EGP 0.25\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624668,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/16\/te-allocates-usd-10-mn-to-maintenance-and-operations-work-on-subsea-mena-cable\/","url_meta":{"origin":624965,"position":2},"title":"TE allocates USD 10 mn to maintenance and operations work on subsea MENA cable","author":"enterpriseam admin","date":"16 September 2018","format":false,"excerpt":"Telecom Egypt has reportedly allocated USD 10 mn to installation and maintenance work on its subsea MENA cable, sources tell Al Mal. TE had acquired MENA Cables from Orascom Telecom Media and Technology earlier this year in a USD 90 mn transaction, of which USD 40 mn represented the cost\u2026","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629097,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/22\/telecom-egypt-signs-spa-for-acquisition-of-otmts-mena-cables\/","url_meta":{"origin":624965,"position":3},"title":"Telecom Egypt signs SPA for acquisition of OTMT\u2019s MENA Cables","author":"enterpriseam admin","date":"22 May 2018","format":false,"excerpt":"M&A WATCH- TE inks SPA for USD 90 mn acquisition of OTMT\u2019s MENA Cables: Telecom Egypt (TE) subsidiary the Egyptian International Submarine Cables Company (EISCC) has executed a sale and purchase agreement for the USD 90 mn acquisition of Orascom Telecom Media and Technology (OTMT) subsidiary MENA Cables, according to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630708,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/te-reportedly-close-to-signing-efg-hermes-as-adviser-on-mena-cables-acquisition\/","url_meta":{"origin":624965,"position":4},"title":"TE reportedly close to signing EFG Hermes as adviser on MENA Cables acquisition","author":"enterpriseam admin","date":"30 April 2018","format":false,"excerpt":"M&A WATCH- Telecom Egypt is reportedly close to tapping EFG Hermes as an adviser on an acquisition of MENA Submarine Cable Systems from the Orascom Telecom Media and Technology (OTMT), sources tell Al Mal. Neither TE or OTMT have publically acknowledged a transaction is in the works. However, TE had\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628734,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/te-to-acquire-otmts-mena-cables-in-usd-90-mn-transaction-obtain-long-term-usd-credit-facilities\/","url_meta":{"origin":624965,"position":5},"title":"TE to acquire OTMT\u2019s MENA Cables in USD 90 mn transaction, obtain long-term USD credit facilities","author":"enterpriseam admin","date":"13 May 2018","format":false,"excerpt":"M&A WATCH- TE to acquire OTMT\u2019s MENA Cables in USD 90 mn transaction, obtain long-term USD credit facilities: Telecom Egypt (TE) announced on Thursday\u00a0that its board of directors has signed off on the decision to acquire Orascom Telecom and Media Technology\u2019s (OTMT) MENA Submarine Cables Systems in a USD 90\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=624965"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624965\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624957"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624965"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=624965"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=624965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}