France Telecom is looking at taking over Congo-China (CCT), the fourth mobile operator of the Democratic Republic of Congo.
The French company is in exclusive talks to buy the 51% stake owned by Chinese equipment maker ZTE and will also take part in the…
France Telecom is looking at taking over Congo-China (CCT), the fourth mobile operator of the Democratic Republic of Congo.
The French company is in exclusive talks to buy the 51% stake owned by Chinese equipment maker ZTE and will also take part in the tender launched today by the government to sell the state’s 49% stake. Bids must be submitted between 18 and 29 July.
An FT spokesperson said: “Discussions with ZTE are ongoing and we will participate in the government’s tender as we’re looking to acquire 100% of the company.
“The country has less than 20% mobile penetration rate so there is a lot of potential for growth,” he added.
According to Reuters, France Telecom could disburse E300m for CCT, which has substantial debt. The spokesperson declined to comment on the figure.
France Telecom’s chairman and CEO Stephane Richard recurrently said that 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.
