Mozambique telecom firms will submit merger proposal by end-2018

News General Mozambique 27 AUG 2018
Mozambique telecom firms will submit merger proposal by end-2018

The board of directors of Mozambican state-owned companies Mocambique Celular (Mcel) and Telecomunicacoes de Mocambique (TDM) has until the end of the year to submit a merger proposal, reports Lusa. The proposal is almost complete, according to Transport and Communications Minister Carlos Mesquita, quoted by daily O Pais. He added that the companies only have a single board and that stores are already technologically prepared to serve the activities of both companies.

Mahomed Rafique Jusob was appointed as chairman of the board of directors a year ago with the aim of merging the two firms.

The resolution follows the announcement by the Mozambican government in 2016 that it would merge the public mobile telephone operator Mcel and the public fixed telephone operator TDM.

Categories:

General

Companies:

mCel,  TDM

Countries:

Mozambique

Tags:

Government policy, M&A buyouts & divestments

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