Chad’s government has offloaded a 60% stake in local incumbent Societe des Telecommunications de Tchad (SOTEL) to an unspecified UK company, according to reports cited by Telegeography.
Neither the operator nor government officials could be reached by…
Chad’s government has offloaded a 60% stake in local incumbent Societe des Telecommunications de Tchad (SOTEL) to an unspecified UK company, according to reports cited by Telegeography.
Neither the operator nor government officials could be reached by press time.
A year ago, Orascom Telecom reached a settlement with the Republic of Chad over its contested ownership of Sotel Tchad. Under the agreement, the government will pay US$4.9m to Orascom. In exchange, Orascom agreed to stop claiming ownership of the incumbent.
The dispute arose in 2002, when Chad decided to invalidate an agreement between Sotel Chad and Orascom to transfer of a 51% stake in Sotel Tchad and its mobile arm, Tchad Mobile, to the Egyptian company.
As a result, Orascom suspended the operations of Tchad Mobile in July 2004 and took the matter to the International Chamber of Commerce in March 2005.
