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Wireless

Econet buys Telecel operations in Burundi, CAR

Monday 20 October 2014 | 11:17 CET | News
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. GTH previously agreed to sell TG to another purchaser 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

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Categories: Mobile & Wireless
Companies: Econet Wireless / Telecel / Vimpelcom
Countries: Burundi / Central African Republic
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