It is reported the company is in talks with the National Telecommunication Regulatory Authority about the price of the mobile license. Mohamed Elnawawy told Zawya Dow Jones he hopes the price will be modest.
"The strategy is very simple," he said. "Customers want total telecoms. Telecom Egypt is a customer company and we want to be a total customer provider."
The National Telecommunication Regulatory Authority had said in December last year it would allow Telecom Egypt to acquire a mobile network license.
This move is expected to shrink the market share held by Vodafone Egypt, Mobinil and Etisalat Misr and enlarge competition.
The company also anticipates introducing 4G services after a year of mobile rollout. To do this they will raise funds, with experts suggesting this will be accomplished by offloading shares held in Vodafone Egypt.
"For the 4G licence, they will have to decide what to do with Vodafone Egypt," said Marise Ananian, an analyst at EFG Hermes. "They will have to sell or buy their 45% stake, because I don't think keeping it is an option. But it depends on Vodafone Group and whether they want to sell their 55% stake in Vodafone Egypt."
The government of Egypt holds an 80 per cent share of the Telecom Egypt.
