Foreign Investors Interested In NetOne, Telecel And TelOne According To Mandiwanzira

By Farai Mudzingwa

According to ICT Minister Supa Mandiwanzira, there are foreign investors that have tabled bids to buy shareholding in state-owned mobile operators NetOne, Telecel as well as fixed operator TelOne. The offers are for both the controlling and majority equity stakes in the companies.

The bids come in at a time both companies are in need of capital injection if they are to compete with the market leader, Econet in any meaningful way. According to Mandiwanzira, NetOne and Telecel combined need in excess of US$500 million in fresh capital injection for network expansion and other purposes.

TelOne has requested the government to …read more

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