Cairo – Mubasher: Orange Egypt for Telecommunications has signed an EGP 74 million settlement agreement with Telecom Egypt on Thursday.

Orange Egypt has paid EGP 72 million, in addition to EGP 2 million, to settle its international arbitration and to resolve all of the local and international connection services and infrastructure with TE, the company highlighted in a statement to the Egyptian Exchange (EGX).

Orange Egypt’s board assigned CEO Jean-Marc Harion to sign the settlement agreement with TE.

In January 2017, Cairo Economic Court compelled Orange to pay EGP 49 million for TE as a compensation for passing international tariffs.