Foreign Firms Showing Interest in Ethio Telecom

Ethio-Telecom-shareAugust 3, 2018 - Several foreign companies are showing interest in Ethiopia's telecom sector, including acquiring minority shares, according to Reuters.

The companies that have shown interest include Vietnam's state-owned telecom company Viettel, Johannesburg-listed MTN, and France's Orange.

Viettel is eyeing opportunities in Ethiopia, a company official said on Monday, after the government there announced its intention to liberalise key economic sectors including telecommunications.

The Ethiopian government announced last month that it plans to sell minority shares in Ethiopian Airlines, Ethio Telecom, and other state-owned businesses. Of all, Ethio Telecom is seen as the biggest prize due to its huge protected market.

Viettel currently operates or holds licenses in African markets including Mozambique, Burundi, Cameroon and Tanzania.

Viettel official said even if the Ethiopia initially opts to only sell a stake in Ethio Telecom, which boasts over 60 million mobile subscribers, Viettel could still be interested.

"If Ethiopian government offers the clear and sensitive option for selling of Ethio Telecom's shares, Viettel will still thoroughly consider this option if it is suitable with Viettel's investment strategies," the official said.



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