Cairo – Mubasher: The ordinary meeting of Telecom Egypt decided to settle a dispute with 44.5%-owned Vodafone-Egypt by binding the latter to pay out cash dividends at a minimum of EGP3.34 billion ($375 million).
Out of the decided amount, the landline operator will receive EGP1.5 billion ($168 million).
By this settlement, Vodafone International will drop its lawsuit against Vodafone-Egypt over the use of Vodafone trade mark.
Moreover, the settlement entailed maintaining trademark application fees at 0.7% for the period from 1 April 2008 to 31 March 2016, gradually increasing by 1.75% from April 2019 to 21 January 2022.
