Telecom Egypt upgraded to FTSE Russell mid-cap segment
CAIRO - Telecom Egypt has been upgraded to the FTSE Emerging Markets Index, moving from the Small Cap to the Mid Cap segment as part of a semi-annual review. The company’s market capitalization exceeded $3.9 billion, surpassing the minimum requirement for Mid Cap inclusion. FTSE Russell’s index currently includes three Egyptian companies.
Telecom Egypt’s CEO, Tamer El Mahdi, stated that the upgrade reflects the company’s strong performance, resilient financial position, and disciplined capital management. The company offers various telecommunications services in Egypt, including mobile service WE and a 45% stake in Vodafone Egypt.
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