Angola govt starts Telecom privatisation process

Thursday 8 March 2018 | 17:00 CET | News

The privatization of 45 percent of Angola Telecom is in the evaluation phase for the determination of the company's equity value and the amount of shares to be sold, according to the coordinator of the interim management commission, Eduardo Sebastiao, reports Jornal de Angola. He said that the process is on schedule, but could not provide any deadlines for the sale of the company's capital. 

The next stage, according to him, is to draw up the terms of reference and the submission of tender documents, after which the tender procedure will open to interested bidders. 

Sebastiao revealed that, in partnership with a future investor, Angola Telecom plans to invest USD 200-400 million (AOA 42.6-85.3 billion) for the launch of a mobile operation. At the end of 2017, Angola Telecom had operating costs of more than AOA 130 million per year, but aims to reduce these by 70 percent by the end of 2018. The operator also has third-party debts amounting to more than AOA 10 billion, in a list that includes public institutions, private companies and private clients.

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