The Zimbabwe government is expected to re-launch its bid for the remaining stake in Telecel Zimbabwe, the country's third biggest cell phone network operator.
ICT Minister Supa Mandiwanzira confirmed last week that his government was poised to acquire the remaining 40% from VimpelCom.
"The acquisition of remaining stake in Telecel Zimbabwe is inline with the government policy of indigenisation. The company will then be wholly owned by locals," Mandiwanzira told ITWeb Africa.
The 40% stake is owned by a local consortium, EC shareholders: James Makamba through Kestrel Corporation, Jane Mutasa (Indigenous Business Women Organisation), Leo Mugabe (Integrated Engineering Group) and Phillip Chiyangwa (Affirmative Action Group), who according to the minister, have agreed to sell their stake.
"What you have to understand is the local consortium approached government with an offer to dispose their stake. I'm also made to understand they also approached other potential suitors," Mandiwanzira says.
Amsterdam-based Vimpelcom sold its 60% stake in the company last years after government put pressure on the company to cede its shares to locals in line with its controversial empowerment policy.
"The Zimbabwe telecoms industry will no be the same again - it will be controlled by locals and (with) no foreign players," Mandiwanzira added.
The Zimbabwe government owns state mobile operator NetOne, the second largest network operator in the country, which has 4 million subscriber base, and has also invested in Telecel Zimbabwe.
Telecel spokesperson Francis Chimanda could not offer any more details on negotiations and said it is a shareholders issue and only shareholders can comment.
Share
