Comoros is looking for investors to acquire a 51% stake in the national telco, as part of its “reform program” for the industry.
In an announcement yesterday, the government of the African Island said it was looking to privatise Comores Telecom by…
Comoros is looking for investors to acquire a 51% stake in the national telco, as part of its “reform program” for the industry.
In an announcement yesterday, the government of the African Island said it was looking to privatise Comores Telecom by transferring its assets to a newly created company, of which 51% would be sold to one or more “strategic equity investors,” who will be selected through an “international competitive bidding process.”
The government will retain a 34% stake in the operator and Comores Telecom’s employees will keep 15%.
Potential investors are invited to submit their expression of interest, after which there will be a pre-selection phase followed by the tender process. The timetable for the transaction will be announced at a later stage.
To be able to enter the pre-selection phase, potential investors must already have an operating licence or have €150,000 in equity.
The International Finance Corporation (IFC) is advising the government on the transaction.
