Business / Local
Phillip Chiyangwa wades into Telecel shares saga
13 Feb 2015 at 01:01hrs | Views
Flamboyant Harare businessman Phillip Chiyangwa has said 60 percent of shares in Telecel Zimbabwe Private Limited owned by Amsterdam based Vimpelcom, must be sold to local Zimbabwean.
In a letter written to Indigenisation minister Christopher Mushowe and Supa Mandiwanzira said his company Native Telecoms was willing to buy out both local and international foreign shareholders in Telecel.
Chiyangwa said at the time of acquiring the licence, government aimed at empowering local banks and such ideas will be jeopardised if you do not intervene to cause cancellation of the intended illegal sale and cause parties to resolve issues pertaining to equity in Telecel Zimbabwe's Empowerment Corporation Private Limited.
He urged the ministers to intervene in the matter arguing that his company had the wherewithal to buy out any disgruntled shareholders.
Meanwhile, the hearing of Jane Mutasa's application seeking to stop the Empowerment Corporation Private Limited (ECs) February 20 extra ordinary meeting has been deferred to today.
The ERGM seeks to ratify the sale of EC's 40 percent stake in Telecel Zimbabwe (Pvt) Ltd.
In a letter written to Indigenisation minister Christopher Mushowe and Supa Mandiwanzira said his company Native Telecoms was willing to buy out both local and international foreign shareholders in Telecel.
Chiyangwa said at the time of acquiring the licence, government aimed at empowering local banks and such ideas will be jeopardised if you do not intervene to cause cancellation of the intended illegal sale and cause parties to resolve issues pertaining to equity in Telecel Zimbabwe's Empowerment Corporation Private Limited.
Meanwhile, the hearing of Jane Mutasa's application seeking to stop the Empowerment Corporation Private Limited (ECs) February 20 extra ordinary meeting has been deferred to today.
The ERGM seeks to ratify the sale of EC's 40 percent stake in Telecel Zimbabwe (Pvt) Ltd.
Source - Dailynews
