Cairo – Mubasher: Orange Egypt for Telecommunications said Thursday that its ordinary general meeting (OGM) has approved to sign a netting contract under which the company will provide a credit facility worth EGP 500 million to its subsidiary Orange DSL.

The credit facility maturity date is 20 April 2020, according to a bourse filing.

The company’s extraordinary general meeting (EGM) agreed to resume operations although its losses have exceeded more than 50% of the issued capital.

The OGM also adopted the financial statements for the year ended on 31 December 2016.