Airtel and Telecom Egypt Ink Submarine Cable Deal
- Business & Finance
Airtel and Telecom Egypt have formed a strategic submarine cable partnership.
Namely, Airtel will get indefeasible right of use on Middle East North Africa Submarine Cable (MENA Cable) and TE North Cable Systems.
In addition, Airtel will also take large capacities on a long-term basis on two new cable systems (SMW5 & AAE1).
The partnership grants Airtel the right to use fiber pairs of MENA Cable from Egypt to India with access to Saudi Arabia and Oman, and other fiber pairs from Egypt towards Italy. It also extends beyond MENA Cable, where Airtel will get the right to use a fiber pair from Egypt to France on TE North along with capacities on SMW5 and AAE1 cable systems.
Ajay Chitkara, director and CEO – Airtel Business said, “The partnership including MENA Cable and TE’s network will be a good addition to our global network portfolio and provide us with a high quality and diversified new route to Western Europe and the rest of the world.”
Ahmed El Beheiry, Chief Executive Officer of Telecom Egypt stated, “Telecom Egypt signed the agreement with OTMT to acquire MENA Cable with the aim of capitalizing on the growing traffic from India and Saudi Arabia to Europe and to obtain a new gateway to Europe through Italy. We are pleased to be able to sign the MoU with Airtel as well as to be able to bundle MENA’s assets with existing assets of the TE network. We aim to come back to the market with more details on the MoU and its financial impact once the deal is closed.”