The board of landline operator Telecom Egypt (TE) approved the recommendation of the investment committee to increase the capital of TE Investment Holding by EGP 35 million with the aim of enabling the company to implement its strategy and serve its operational entity locally and overseas.
The board also gave a nod to the committee’s recommendation on acquiring, via TE’s unit TE Investment Holding and TE Data, the minority interests in Centra Technologies, which amount to 1,030,966 shares at EGP 4 each, totaling EGP 4.1 million.