Global Telecom Holding has announced it has sold 100% of Telecel Globe Ltd capital.
The company owns 100% of shares in Burundi company UCom and Telecel CAR in the Central African Republic for $65m, paid to Econet Wireless Global Ltd.
Global Telecom planned to sell Telecel to another entity last year, but Econet Wireless Global was unable to complete the deal. A sum of money paid by the company to Global Telecom as part of the deal was confiscated as a fine.
Global Telecom Holding is a leader in the field of communications and network operations.
Mobile phones ownership is growing fast in the Middle East, Africa, and Asia, and the company’s licenses cover 466 million people living in the region. Global Telecom operates its network in Algeria through affiliate company Djeezy, Pakistan through Mobilink, and Bangladesh through Bengilink.
The company owns an indirect share in Canada through Wind Mobile and another in Telecel Zimbabwe through its subsidiary Telecel Global, which operates its mobile network in Burundi and the Central African Republic.
Source: Daily News Egypt