Egypt's Mobinil makes 3G licence payment

CAIRO, EGYPT: Egypt's Mobinil made a 750 million Egyptian pound ($138.3 million) instalment to the telecom regulator as part of a payment for its 3G licence, the firm said on Sunday.

Mobinil, Egypt's largest mobile operator by subscribers, is selling bonds worth 1.5 billion pounds in an offer that closes on Jan. 24, and has said it would use some of the proceeds to pay for the 3G licence.