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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