Business / Companies

Telecel Zimbabwe sold to government's Zarnet

by Staff reporter

18 Nov 2015 at 06:36hrs | Views

VimpelCom today announced that its 51.9% owned subsidiary, Global Telecom Holding S.A.E. ("GTH"), has entered into an agreement with ZARNet (Private) Limited to sell its stake in Telecel International Limited for $40 million.

Telecel International owns 60% of Telecel Zimbabwe (Pvt) Ltd. Transfer of ownership to ZARNet will occur after customary conditions are satisfied.

ZARNet is wholly owned by the Government of the Republic of Zimbabwe through the Ministry of Information & Communication Technology, Postal and Courier Services.

Source - VimpelCom

Telecel Zimbabwe sold to government's Zarnet

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