Cairo – Mubasher: Pharos Research has set the fair value (FV) of Telecom Egypt’s stock at EGP 16.22 with an overweight recommendation.

Telecom Egypt will be the only telecom operator listed on the Egyptian Exchange (EGX) after delisting the shares of Global Telecom Holding (GTH) as well as the strategy shift made by Orascom Investment Holding, Pharos Research said in a report released on Sunday.

During the first half of 2019, Telecom Egypt logged a profit of EGP 2.133 billion, compared to EGP 2.061 billion in the year-ago period, the company’s consolidated financial results showed.