Orange Egypt to get €500m loan from parent for 4G licence

Cairo: Telecommunications firm Orange Egypt has agreed on a €500 million ($553 million; Dh2.04 billion) loan from its parent company to cover the cost of a licence that will let it operate fourth-generation mobile phone services, the company said on Monday. The loan matures in December 2020 and will have an interest rate of 7 per cent, the statement said. Orange Egypt is a subsidiary of French group Orange.