Egypt has confirmed a $3.5 billion valuation for its latest spectrum auction, which allocated a combined 410 MHz of spectrum to four MNOs. This is the largest such deal in Egyptian history, but more unusually, it is also equivalent to all previous allocations in licensed spectrum – which has totaled just 412 MHz, since 1996. Unfortunately, the Egyptian government is being quite indirect about which of the operators has secured what. The National Telecommunications Regulatory Authority (NTRA) first announced this auction in June 2025. Some Egyptian outlets report that this $3.5 billion is equivalent to around 35% of total telco investments in Egypt over the past 30 years. The allocations will run to 2039, and a second auction will take…