Orange enters exclusive talks to buy 51% of CCT from ZTE

Monday 18 July 2011 | 10:15 CET | News
France Telecom Orange has entered exclusive talks to acquire 51 percent of Democratic Republic of Congo operator Congo-China Telecom from Chinese equipment maker ZTE and plans to bid for the remainder stake being auctioned by the government of DRC, a company spokeswoman told Reuters. Given CCT's high level of debt, the deal could cost Orange EUR 300 million, according to someone familiar with the situation. The DRC offers strong growth potential as only 17 percent of the population currently use mobile phones over the country's 2G network and no single operator has a dominant national

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