Cairo – Mubasher: Telecom Egypt said Sunday that it is negotiating for receiving a loan worth EGP 5 million to finance future expansions.  

In a bourse filing, the company indicated that it is holding talks with banks as part of a plan that aims at assessing and overhauling alternative its promising financing scheme to update its network up till 2020.  

The state-owned company revealed no further details about the identity of the banks or interest rate.

On Sunday, its stock quote rose 0.72% to EGP 8.39 at close.