The Democratic Republic of Congo has agreed to sell its 49% in mobile operator Congo-China Telecom (CCT) to France Telecom, according to Reuters.
The chief of staff at the telecoms ministry, Jacques Baikpon, was quoted saying that the public treasury…
The Democratic Republic of Congo has agreed to sell its 49% in mobile operator Congo-China Telecom (CCT) to France Telecom, according to Reuters.
The chief of staff at the telecoms ministry, Jacques Baikpon, was quoted saying that the public treasury would raise US$64m from the sale plus over US$10m in taxes and other payments.
TelecomFinance reported this summer that the French company, advised by Lazard, was in exclusive talks to buy the 51% stake owned by Chinese equipment maker ZTE as well as looking at the state’s stake.
France Telecom chairman and CEO Stephane Richard has recurrently said his group aimed to double revenues in Africa and the Middle East to E7bn by 2015.
Airtel, Millicom’s Tigo and Vodacom are also present on the DRC mobile market.
An FT spokesperson confirmed the authorities agreed on the sale but declined to comment on the price. The RDC’s authorities were not immediately available for comments.
