Telecom

Teleology Holdings to acquire majority stake in Uganda Telecom for $70.8 million

Tuesday, 16 October 2018 16:30

It is finally the Nigerian company Teleology Holdings that Uganda government trusted for the majority stakes in Uganda Telecom (UTL).  

The company which was competing since May 2018 with five others agreed to increase its initial bid of $60.5 million for 67% stakes to $70.8 million.

In July 2018, the Economist Intelligence Unit of Uganda was presenting Mauritius Telecom as the best bidder with its offer of $45 million for 69% stakes.

As the major stakeholder in UTL, Teleology Holdings will receive fiscal exemption. It will also use the frequency spectrum of the incumbent operator and be in charge of the management of the national optical fiber infrastructure for 20 years.

To enjoy those benefits, Teleology Holdings will have to pay a non-refundable amount representing 10% ($7 million) of the agreed amount by the end of November 2018 and pay the rest by January 2019 to conclude the acquisition. Uganda indicates that it reserves the right to cancel the operation and launch a new operation to seek partners if Teleology Holdings does not comply with the financial terms.

Teleology Holdings’ entrance in Uganda looks like an extension of its activities in Africa.  The company entered Nigeria by acquiring 9Mobile, ex-Etisalat Nigeria, for $251 million.  

On the same topic
Senegal and Vietnam discussed digital tech cooperation on July 23. Talks support Senegal’s goal to become a digital hub and expand rural...
This partnership is set to unlock broader economic opportunities and foster greater digital inclusion by improving the affordability, reach, and...
As AI reshapes global digital ecosystems, Africa is stepping forward to claim its stake. With limited representation in global AI systems—especially in...
Visa’s local data centre is expected to enhance payment reliability, reduce transaction latency, and support regulatory compliance—all critical factors...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.