Telecel Globe, a subsidiary of Orascom Telecom Holding, has sold its local mobile operator Powercom, which trades under the Leo brand, to Investec and Nedbank The amount of the transaction consists of Powercom’s liabilities of about…
Telecel Globe, a subsidiary of Orascom Telecom Holding, has sold its local mobile operator Powercom, which trades under the Leo brand, to Investec and Nedbank The amount of the transaction consists of Powercom’s liabilities of about US$60m.
TelecomFinance reported last year that Citigroup and Standard Bank were advising on the sell side. Leo had 180,863 GSM subscribers as of June 2009, representing a 13 per cent share of the market.
Telecel Globe acquired 100 per cent of the operator, then known as Cell One, in January 2009 for US$59m.
r Telecom Namibia plans to sell its stake in South Africa’s second national operator Neotel and Angola’s fixed-wireless operator Mundo Startel. Managing director Frans Ndoroma was quoted saying that his intention was to sell the 12.3 per cent stake in Neotel and the 44 per cent stake in Mundo Startel as soon as possible.
He added that Telecom Namibia would try to recover the amount it had invested in the two companies, which is at least NAD544m (US$79.7m). Ndoroma was also quoted saying that while Angola had good prospective short-term returns, the market had proved to be difficult politically, culturally, regulatory and logistically.
