Eritrea offers stake in EriTel to domestic buyers only

Monday 7 January 2013 | 11:11 CET | News
The Eritrean government is selling a stake in telecommunication operator EriTel as part of plans to boost private investment, but the company's CEO said the offer was only open to domestic buyers, Reuters reported. EriTel CEO Tesfaselassie Berhane wrote in an open letter to would-be investors posted on its website that the sale will give it a friendly competitive advantage to remain a leading player in the context of the growing Eritrean economy, even after liberalisation of the telecommunications sector. The letter said up to 4.5 million ordinary shares would be available at a subscription

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Categories: Fixed / Mobile & Wireless
Companies: Eritel
Countries: Eritrea
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