Telecel Globe, a subsidiary Orascom Telecom Holding, has sold its Namibian mobile operator Powercom, trading under the Leo brand, to Investec and Nedbank.
The amount of the transaction consists of Powercom’s liabilities of about US$60m.
Telecom Finance…
Telecel Globe, a subsidiary Orascom Telecom Holding, has sold its Namibian mobile operator Powercom, trading under the Leo brand, to Investec and Nedbank.
The amount of the transaction consists of Powercom’s liabilities of about US$60m.
Telecom Finance reported last year that Citigroup and Standard Bank were advising on the sale side.
Leo had 180,863 GSM subscribers as of June 2009, representing 13% market share. Telecel Globe acquired 100% of the operator, then known as Cell One, in January 2009 for US$59m.
