South Africa’s MTN Group has been invited by rival Vodacom to evaluate options for the latter’s operations in the Democratic Republic of Congo (DRC).
In an email to TelecomFinance, Rich Mkhondo, an MTN spokesperson, said the company is aware…
South Africa’s MTN Group has been invited by rival Vodacom to evaluate options for the latter’s operations in the Democratic Republic of Congo (DRC).
In an email to TelecomFinance, Rich Mkhondo, an MTN spokesperson, said the company is aware “that Vodacom has engaged in a process to evaluate various alternatives in relation to its investment in the DRC. Together with other potential interested parties, MTN has been invited to be part of such a process.
“As the opportunity is in line with our strategy of becoming the leading communications provider in emerging markets, we can confirm we are participating in the formalised process.”
Previous media reports had already suggested that MTN was interested in buying Vodacom’s 51% stake in Vodacom DRC.
In December 2010, Vodacom agreed with local partner Congolese Wireless Network, which holds 49% of Vodacom DRC, to appoint NM Rothschild to explore options for the DRC unit. A Vodacom spokeswoman confirmed today that the ‘Rothschild process’ is still under way.
Vodacom, which is majority-owned by UK-based Vodafone, has reportedly been in a dispute with Congolese Wireless Network since at least early 2010 over funding and operational structure after it injected US$484m in the business.
