Tanzania's Tigo to buy 85 per cent shares of Zantel

ETISALAT Group has agreed to sell its 85 per cent stake in Zantel to Millicom International, it has been revealed. 

The agreement is now awaiting approval from Tanzania Communication Regulatory Authority (TCRA) and the Fair Competition Commission (FCC).

Zantel said in a statement that after the sale, Millicom International which operates as Tigo, will have 85 per cent of the shares while the government of Zanzibar will remain with 15 per cent.

The government of Zanzibar and Etisalat have both been active participants during the sale process, where the key objective has been to secure a long-term future for Zantel, its employees and the brand.

The statement affirmed that transaction is only a change in one of Zantel’s shareholders, but it will not affect Zantel customers or its operations.

“Zantel’s commitment to its stakeholders will be highly honoured and the services will continue as normal as our customers will continue to enjoy wider choices as well as better product offerings,” reads part of the statement.

The management also reaffirmed commitment to expand its services by bringing the most advanced, exciting products and services while continuously providing better and technologically advanced services at affordable rates.

Zantel is the leading mobile telecom operator in Zanzibar and the largest internet service provider in Tanzania and since its inception in 1999, Zantel has been able to expand its market to mainland Tanzania and it operates 2G and 3G services respectively while also providing fixed, mobile and data services.
Source: Daily News, reported from Unguja, Zanzibar
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