Orange nods €250 million contract with parent co

CAIRO – 9 July 2017: The extraordinary general meeting (EGM) of Orange Egypt for Telecommunications on Thursday agreed on a new financial contract with the parent co, MT Telecom SCRL, to get a €250 million ($285 million) loan.

The loan will be due on December 21, 2020, with an annual interest rate of 7.7 percent, according to a stock report.

The company mandated its deputed board member Jean-Marc Harion to sign on the contract, which will be used to finance the company’s needs.