Congo in telco's sight
Source: Bloomberg News |
July 19, 2011, Tuesday
|
Print Edition
Print Edition
FRANCE Telecom SA may make the Democratic Republic of Congo its next target for African expansion after entering into exclusive talks with China's ZTE Corp to purchase a majority stake in Congo China Telecom, the country's fourth-largest mobile operator.
The French telco could later purchase the 49 percent of the operator held by the Congolese government as part of a call for bids, in addition to ZTE's 51 percent stake, Beatrice Mandine, a France Telecom spokeswoman, said yesterday.
The combined transactions could represent an investment of about 300 million euros (US$425 million), according to a person familiar with the situation.
An exact valuation is hard to determine because the government tender hasn't been completed, the person said.
The French telco could later purchase the 49 percent of the operator held by the Congolese government as part of a call for bids, in addition to ZTE's 51 percent stake, Beatrice Mandine, a France Telecom spokeswoman, said yesterday.
The combined transactions could represent an investment of about 300 million euros (US$425 million), according to a person familiar with the situation.
An exact valuation is hard to determine because the government tender hasn't been completed, the person said.
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