Sunday, July 17, 2011

DRC- France Telecom in talks to acquire the 51% stake in Congo China Telecom held by ZTE

[bloomberg] France Telecom SA (FTE) is in exclusive talks with ZTE Corp. of China to purchase a majority stake in Congo China Telecom, the African country’s fourth-largest mobile-phone company.

France Telecom could later purchase the 49 percent of the operator owned by the Congolese government as part of a call for bids, in addition to ZTE’s 51 percent stake, said Beatrice Mandine, a France Telecom spokeswoman. Both transactions combined could represent an investment of about 300 million euros ($425 million), with an exact valuation hard to determine because the government tender hasn’t been completed, according to a person familiar with the situation.

France Telecom in Talks With ZTE Corp. to Buy Stake in Congo China Telecom

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