UCC orders MTN Uganda to list 20% of own shares within 2 years after licence renewal

News Wireless Uganda 15 JUL 2020
UCC orders MTN Uganda to list 20% of own shares within 2 years after licence renewal

The Uganda Communications Commission (UCC) has told MTN Uganda to list at least 20 percent of its shares on the local stock exchange within two years, Bloomberg reported. An initial public offering was one of the conditions for the renewal of its permit for twelve years effective 01 July, said UCC spokesman Ibrahim Bbossa. 

Local ownership of MTN Uganda is about 4 percent. MTN had been operating on temporary permits since its initial 20-year license expired in October 2018. It has fully paid the USD 100 million for a new licence. The company is also required to extend its network and services to cover at least 90 percent of the country within five years, the regulator said.
 


 

Categories:

Mobile

Companies:

MTN Uganda,  UCC

Countries:

Uganda

Tags:

Government telecommunications licensing, Shareholders & subsidiaries, Regulations, Network operations services, Wireline, Wireless, Financial funding

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