Namibian state-owned incumbent Telecom Namibia has agreed to purchase 100% of the country’s second largest mobile operator Powercom (branded as Leo), although a spokesperson for the PSTN operator, Oiva Angula, told Reuters there remained ‘legal and regulatory issues to sort out’ before the deal could be completed. Angula said that a further statement on the takeover – which would result in a duopoly of two majority state-owned operators – would be released sometime on Thursday. In June 2011 Telecel Globe, part of Egypt’s Orascom Telecom, agreed to sell Powercom (Leo) to UK-registered, southern African investment fund Investec Asset Management and South African banking group Nedbank Group in a cashless deal involving the transfer of the cellco’s USD60 million of debt.
View article:
OVETEL Telecom Namibia to acquire Leo
No comments:
Post a Comment