Pre-Trading Thoughts

Pitch| ETEL’s Relative Valuation and Vodafone Stake Sale Show Massive Upside Potential. ETEL is significantly undervalued compared to emerging peers. The relative value ranges from EGP48.05-81.93 per share. DCF FV is EGP 34. A significant improvement in financial performance on reaping infrastructure spending fruits along with Improved cash flows, higher margins, and lower CAPEX. Key Triggers: Upward Repricing Potential, Orange Roaming Agreement, and Tower Monetization. Market price fails to ...