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Sunday, 3 July 2016

Telecom companies want assurances to repatriate profits in return for paying for 4G licenses in USDs

Telecom operator parent companies have asked for government guarantees to allow them to repatriate profits in USD in return for paying 50% of the price of 4G licenses in USD, unnamed sources told Al Borsa on Saturday, echoing previous reports we noted last month. The request falls under conditions etched out by telecom companies to pay the USD-denominated tranche of 4G licenses. The firms have also asked to be given priority when banks provide foreign currency to be able to import 4G equipment.

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