MTC has a new shareholder
Namibia’s leading telecommunications giant, Mobile Telecommunications Limited (MTC)’s partnership with Brazilian telecommunications giant Oi's developing market holding company, Africatel BV, has come to end and is to be transferred to Samba Luxco.
Oi’s investment partner, Africatel BV, has decided to reduce its stake in developing markets from 25% to 14%, thereby increasing Oi’s Africatel ownership to 86% and subsequently transferring to Samba Luxco its 34% stake in MTC.
“The transactions are subject to necessary regulatory and antitrust approvals being obtained,” a statement from MTC reads.
This follows confirmation from Brazilian Telecommunication group Oi on the withdrawal of Samba Luxco in developing markets, including Namibia.
Oi is also believed to be in a merging process with MTC former partner, Portugal Telecom (PT); a former 34% shareholder in MTC and management contract.
How this transfer in shareholding is to affect MTC appears positive and the mobile operator is adamant that the agreement between Oi and PT will extract benefits for them.
“MTC will be able to extract benefits from this merger and add value for its customers by extending further its best practice sharing platform, access to leading edge technology and increased economics of scale,” said MTC Chief Human Capital and Corporate Affairs Officer Tim Ekandjo.
PT has its presence in countries such as Portugal, Brazil, Angola, Mozambique, Cape Verde, Kenya, Sao Tome and Principe, Namibia and Timor.
Africatel holds various stakes in Africa such as a 51% in Companhia Santomense de Telecomunicacoes (CST) in Sao Tome and Principe; a 34% stake in MTC Namibia; and 40% ownership in Cape Verde fixed network operator Cape Verde Telecom.
The agreement between the two parties brings to end an arbitration proceeding commenced by Samba Luxco in November 2014, according to the statement.
Furthermore, Oi aims to maximise the value of investment by coordinating the sale of shares with Africatel’s 25% shareholder, Samba Luxor, according to the statement.
“This is also good news for our human capital agenda because through such partnerships we are able to develop our human capacity in the telecommunications industry as our staff will benefit from world class expertise in terms of potential international exchange exposure and training programmes,” Ekandjo noted.
Oi also added that it is “committed to working with its local partners in each of operating companies in which Africatel has invested to ensure a coordinated transition of ownership”.
NAMPA
Oi’s investment partner, Africatel BV, has decided to reduce its stake in developing markets from 25% to 14%, thereby increasing Oi’s Africatel ownership to 86% and subsequently transferring to Samba Luxco its 34% stake in MTC.
“The transactions are subject to necessary regulatory and antitrust approvals being obtained,” a statement from MTC reads.
This follows confirmation from Brazilian Telecommunication group Oi on the withdrawal of Samba Luxco in developing markets, including Namibia.
Oi is also believed to be in a merging process with MTC former partner, Portugal Telecom (PT); a former 34% shareholder in MTC and management contract.
How this transfer in shareholding is to affect MTC appears positive and the mobile operator is adamant that the agreement between Oi and PT will extract benefits for them.
“MTC will be able to extract benefits from this merger and add value for its customers by extending further its best practice sharing platform, access to leading edge technology and increased economics of scale,” said MTC Chief Human Capital and Corporate Affairs Officer Tim Ekandjo.
PT has its presence in countries such as Portugal, Brazil, Angola, Mozambique, Cape Verde, Kenya, Sao Tome and Principe, Namibia and Timor.
Africatel holds various stakes in Africa such as a 51% in Companhia Santomense de Telecomunicacoes (CST) in Sao Tome and Principe; a 34% stake in MTC Namibia; and 40% ownership in Cape Verde fixed network operator Cape Verde Telecom.
The agreement between the two parties brings to end an arbitration proceeding commenced by Samba Luxco in November 2014, according to the statement.
Furthermore, Oi aims to maximise the value of investment by coordinating the sale of shares with Africatel’s 25% shareholder, Samba Luxor, according to the statement.
“This is also good news for our human capital agenda because through such partnerships we are able to develop our human capacity in the telecommunications industry as our staff will benefit from world class expertise in terms of potential international exchange exposure and training programmes,” Ekandjo noted.
Oi also added that it is “committed to working with its local partners in each of operating companies in which Africatel has invested to ensure a coordinated transition of ownership”.
NAMPA
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