Egypt to compensate Mobile operators for loss

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Egypt will compensate 100 million Egyptian pounds ($16.8million) to Mobile operators in the country for the loss caused by disruption of services during the uprising period, reported state run Middle East News Agency quoting Communications Minister Maged Osman. Soon after the declaration, Telecom stocks in Egypt went up and closed Higher on Sunday.

Egypts largest mobile operator, Mobinil had stated in February that the damages caused to them during the political uprising in early this year has valued between 80 million to 100 million.

After the outbreak of protests Internet and mobile services were suspended by the Egyptian Government on January 28 th in view of disrupting dissemination of information among protesters. The services were restored on Feb 2 only, before President Hosni Mubarak stepped down on Feb 11.

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