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Etisalat mulls sale of Zantel - report
2014-09-30 10:28:00| Telecompaper Headlines
(Telecompaper) UAE-based operator Etisalat is exploring a sale of its stake in Tanzanian operator Zantel, Bloomberg reported citing people with knowledge of the situation. Deutsche Bank is working with Etisalat on the sale of its 65 percent stake in Zantel. Zantel, Tanzania's largest ISP has attracted interest from Vodacom Group and may also attract Millicom International as a suitor, the report said. Zantel had sales of about USD 85 million in 2013, according to an Etisalat document published in May. The unit was in default for non-payment of a USD 96 million bank facility, with the lender saying it may take enforcement action against Zantel unless a payment is made, according to the document.
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Category:Telecommunications