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Etisalat increased Zantel stake
UAE-based Etisalat has increased its stake in Zanzibar Telecom (Zantel) to 65%, buying an additional 14% stake for US$16m.
The move is part of the company’s international expansion plans. Etisalat’s chief strategy officer was quoted saying that the…
UAE-based Etisalat has increased its stake in Zanzibar Telecom (Zantel) to 65%, buying an additional 14% stake for US$16m.
The move is part of the company’s international expansion plans. Etisalat’s chief strategy officer was quoted saying that the company was aiming to generate 25-30% of its revenues from international operations in three years’ time, compared to around 10% currently.
Etisalat took control of Zantel in 2007.
