Tanzania claims ownership of Bharti Airtel’s local unit
President John Magufuli warns that 'a terrible game was played'
Dar es Salaam — Tanzania says Bharti Airtel’s local unit belongs to state-owned Tanzania Telecommunications, a claim that sets up an ownership dispute between the government and the Indian phone operator. "Airtel, according to the information we have", is an asset of Tanzania Telecommunications, President John Magufuli said on the East African country’s national broadcaster, TBC, on Wednesday. "A terrible game was played. I don’t want to say more than that." The president asked Finance Minister Philip Mpango to follow up on the claim. His comments follow a 2016 order for telecommunications companies to sell at least a quarter of their units on the local bourse to boost domestic ownership. The Tanzania operations of Johannesburg-based Vodacom Group became the largest company on the Dar es Salaam Stock Exchange when it raised 476-billion shillings ($213m) in August. Airtel has yet to list Airtel Tanzania, in which the government has a 40% stake. The company is the country’s third-larg...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.