The government has decided to revoke the fixed-line licence of Lacom, the defunct 50-50 joint venture of Telecom Egypt and Orascom Telecom.
TE and Orascom had shut down Lacom last year after the company failed to attract enough users and was declared…
The government has decided to revoke the fixed-line licence of Lacom, the defunct 50-50 joint venture of Telecom Egypt and Orascom Telecom.
TE and Orascom had shut down Lacom last year after the company failed to attract enough users and was declared bankrupt.
The company paid US$65m to obtain its licence in 2006 and reportedly employed some 163 staff.
At the time, TE and Orascom said they had decided to liquidate the company to focus on more promising opportunities.
Lacom’s full name is Consortium algérien des télécommunications.
