Wednesday, March 24, 2010

Tanzania to Buy Back Zain's Stake in TTCL

A report in the Guardian newspaper says the government of Tanzania is preparing to acquire the remaining 35% it does not already own of national PTO Tanzania Telecommunications Company (TTCL), after the Zain group pulled out of the partnership.

The country’s Communications, Science and Technology Minister Peter Msolla is quoted as saying that negotiations are underway to finalise a deal to make TTCL wholly government owned. It is understood that Zain has agreed to sell its shares in order to improve the telco’s efficiency.

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