ZTE to Divest Stake in Congo-Chine Telecom to Orange
China, Oct 27, 2011 (ACN) - Chinese telecom vendor ZTE has announced plans to sell out its controlling stake in Congo-Chine Telecom, its service provider joint venture in the Democratic Republic of Congo. ZTE will sell its 51% stake in the GSM operator to France Telecom’s Orange in a transaction worth about $10 million.
Congo-Chine Telecom is now the fourth largest mobile operator in a nation where mobile penetration is only at around 17%. The operator holds a national mobile license. ZTE first entered the venture in 2000, forming a partnership with the nation's government to deploy a GSM 1800 network. The sale comes as Vodafone's Vodacom moves to divest its controlling stake in its own mobile joint venture, Vodacom Congo.
By ACN Newswire
Topic: Press release summary Sectors: Telecoms http://www.acnnewswire.com From the Asia Corporate News Network
