Telecel Zimbabwe’s meeting this week with the country’s ICT minister was “fruitful”, telecom regulator Potraz’s acting director general Baxton Sirewu has told TelecomFinance.
“According to representations from Telecel Zimbabwe, there were a…
Telecel Zimbabwe’s meeting this week with the country’s ICT minister was “fruitful”, telecom regulator Potraz’s acting director general Baxton Sirewu has told TelecomFinance.
“According to representations from Telecel Zimbabwe, there were a number of local groups interested in buying a majority stake”, he continued.
The government, which accuses the Vimpelcom-owned business of failing to meet local ownership rules, has revoked its licence and ordered it to shut down within 30 days.
Prior to the meeting, ICT minister Supa Mandiwanzira told a government committee that Telecel still had “a window to survive and operate. There is still room for Telecel Zimbabwe to follow the law and operate”.
Sirewu has said VimpelCom must divest 11% of its current 60% stake in Telecel, in order to comply with the 49% foreign ownership cap it agreed to upon winning its initial licence in 2002.
A spokesperson for Vimpelcom referred to a press statement on 29 April, when it acknowledged that Potraz had cancelled its licence, a move it called “unfair and unwarranted”.
“Telecel has made every effort to comply with all legal and governmental requirements in Zimbabwe, and objects to this treatment in the strongest terms,” the company stated. It added that it was taking immediate legal action to challenge the decision both locally and internationally.
The Vimpelcom spokesperson declined comment on reported interest in the unit from South Africa’s MTN and Angola’s Unitel.
