Telecel takeover next month

Information Communication Technology minister Supa Mandiwanzira said government exacts to finalise the acquisition to finalise of Telecel next month.

This comes amid indications that Zimbabwe's cash-strapped government had breached its contractual obligations to pay $40 million for a 60% stake to Nasdaq-listed international communications and technology company, Vimpelcom, by March this year.

Mandiwanzira said the current cash crisis being experienced in the country had stalled progress on Telecel takeover.

He also defended government's move to acquire Telecel, despite owning another mobile operator, Netone.