Econet buys Telecel operations in Burundi, CAR

News Wireless Burundi 20 OKT 2014
Econet buys Telecel operations in Burundi, CAR
VimpelCom announced that its 51.9 percent owned subsidiary Global Telecom has sold its entire 100 percent stake in Telecel Globe, which owns 100 percent of U-Com in Burundi and Telecel CAR in Central African Republic. The price is USD 65 million, subject to certain post-closing adjustments. TG was acquired by Econet Wireless Global, an operator already active in in several countries in Africa. 

Global Telecom previously agreed to sell TG to another company in Q1 2013. That buyer failed to close the deal and forfeited a deposit it paid to GTH, in accordance with the terms of the purchase agreement that is no longer in force.

Categories:

Mobile

Companies:

Econet Wireless,  Telecel,  Vimpelcom

Countries:

Burundi,  Central African Republic

Tags:

M&A buyouts & divestments

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