Timor-Leste will not increase state stake in Timor Telecom

Wednesday 15 June 2016 | 16:52 CET | News

The Deputy Minister of Finance of Timor-Leste, Helder Lopes, confirmed to Lusa the government's "final decision" to not buy Oi's share in Timor Telecom, keeping only the 20.59 percent of capital it currently controls. Lopes said that the decision was made based on a commercial, financial and economic analysis carried out by the government.

More than two dozen executives of Timor Telecom have signed a letter to Prime Minister Rui Araujo, criticising the decision and regretting they were not consulted during the process. They also warned that the laws governing the telecommunications sector are not being respected by the other two operators, adding that they are targeted by "unfair competition" from Telkomcel and Telemor.

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