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France Telecom closer to Congo acquisition

Monday 5 September 2011 | 10:11 CET | News
The government of the Democratic Republic of Congo (DRC) has confirmed that France Telecom (FT) is the only bidder for its 49 percent stake in Congo Chine Telecom (CCT). Already in talks with Chinese vendor ZTE for its 51 percent share of the company, FT is expected to pay around EUR 300 million in total for the operator, a reflection of its level of debt, rather than its value. Reuters reports that Elie Girard, FT's executive director said that this is an "important step, but not the final step of the process of the withdrawal of the state from CCT and the acquisition".

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Categories: Mobile & Wireless
Companies: France Telecom / ZTE Belgium
Countries: Congo, The Democratic Republic of the
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