Tanzanian incumbent TTCL is set to list on the local stock exchange within five years, once the government completes its acquisition of the 35% stake owned by Bharti Airtel.
Tanzanian incumbent TTCL is set to list on the local stock exchange within five years, once the government completes its acquisition of the 35% stake owned by Bharti Airtel (NSE:BHARTIARTL).
Following the acquisition, the company will start a restructuring process, raising US$100m in the first year, and subsequently another US$200m through a commercial loan, managing director Kamugisha Kazaura told The East African.
The executive added that the company would expand into mobile, providing voice and data services in rural and urban areas.
The government has previously touted the idea of mandatory listings for all telecom operators present in the country.
Earlier this month, Bharti agreed to sell its businesses in Burkina Faso and Sierra Leone to Orange.