Zimbabwe wants MTN and Telkom to buy big stake in telecoms firms
Zimbabwean finance minister Mthuli Ncube says Tel One and Net One must be privatised by September, with the SA firms two of the bidders
Zimbabwe's government says it will approach SA companies Telkom and MTN to offer them a 60% stake in its two telecommunication companies Tel One and Net One. The move is part of the government’s plan to privatise its state enterprises by selling them to interested investors. Zimbabwe’s government is short of capital to invest in the two companies and it strongly feels that only seasoned international investors can inject new life into the struggling firms. Speaking to Business Day in Harare, Zimbabwean finance minister Mthuli Ncube said the cabinet had directed that the two companies be privatised by September 2019 with the two SA companies identified as some of the bidders. There are at least two other unnamed international firms interested in Tel One and Net One . Telkom and MTN have previously expressed interest in buying Tel One and Net One separately but Ncube said his government would soon table a new proposal as a joint package to the SA companies. “I am aware of the Telkom a...
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