Cairo – Mubasher: Egypt’s landline monopoly Telecom Egypt (TE) is expected to receive the 4G mobile license by 2016, said Communications Minister Khaled Negm.

The ministry is carefully studying, in cooperation with TE board of director and National Telecommunication Regulatory Authority (NTRA), the mechanisms needed by TE to obtain the 4G license, according to the minister.

Negm also forecasted these studies to be finalised and the license to be awarded in 2016.

TE, which is 80%-owned by the Egyptian government, holds a 45% stake in mobile operator Vodafone Egypt.

The company said earlier it seeks to convert into an integrated telecoms operator.

MSCI removed TE from its index in its periodic review last May.

TE’s Q1 consolidated profit amounted to EGP 605.6 million, a rise of 10% year-on-year from EGP 550 million.