Orange Group to receive 1% royalty from Orange Egypt
According to Al Borsa, Orange Group will receive 1% in brand royalty from Orange Egypt (previously Mobinil) starting 2016 and to be renegotiated in 2018. Orange Group will also receive 1.5% of Orange Egypt’s revenues for management and consultation fees. In other news, the company’s Chairman, Atef Helmy (ex CIT Minister) stated that company’s focus in the coming period will be modernising the network and increasing the number of shares on the EGX. (Al Borsa, Al Mal)
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