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Sunday, 4 December 2016

Orange DSL makes substantial losses in 9M2015

Orange DSL’s net losses amounted to EGP 90 mn during 9M2016 compared to EGP 50 mn in 9M2015 and the company’s market share has decreased slightly to 14.5%, Al Borsa reports. The company’s debts had also reportedly increased to EGP 360 mn in September from EGP 290 mn last year. Orange DSL had invested a hefty EGP 56 mn in the last nine months to try and regain some of the subscribers they lost last year when Telecom Egypt (TE), without prior warning, decided to upgrade its broadband infrastructure to fiber-optic cables, interrupting the service for other ADSL providers using it and costing them 300k clients. TE and its ISP subsidiary TE Data (which holds nearly 80% of the ADSL internet market) have been accused of using the upgrade as a pretext to poach clients and had reached a settlement with the Egyptian Competition Authority last summer over its anticompetitive practices.

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