PT Ventures exits Cabo Verde Telecom
Friday, 31 May 2019 17:32
Last week, PT Ventures, subsidiary of Brazilian group Oi, agreed to sell the 40% stake it had in Cabo Verde Telecom. These stakes were jointly acquired by Institut national de sécurité sociale (INPS) and Agence de sécurité aérienne et aéroportuaire (ASA).
Following PT Ventures’ withdrawal, Cabo Verde Telecom’s shareholding is now as follows; Institut national de sécurité sociale (57.9%), Agence de sécurité aérienne et aéroportuaire (20%), Cabo Verde (3.4%), Correios de Cabo Verde (0.7%) and private investors (18%).
According to finance minister Olavo Correia (photo), these withdrawals come apropos to put a stop to the conflict that started since 2014 between Cabo Verde and PT Ventures. The incumbent operator is now fully owned by nationals and guarantees them access to the various business opportunities offered by the telecom sector.
Live News
-
Former Deloitte Partner Magen Naidoo Named CEO of Mining Investment Firm Mantengu
20:48
-
Cameroon Raises CFA1.3 Trillion, but Market Conditions Turn Tougher
20:24
-
Cameroon’s Public Works Ministry Moves Into New HQ, but Contractors Still Await Payment
20:15
-
Cameroon’s Public Works Ministry Moves Into New HQ, but Contractors Still Await Payment
20:06
-
China Will Not Seek Reciprocity in Trade Pact With South Africa
19:34
-
Coris Holding Targets Gabon in Central Africa Expansion
19:31
-
Madagascar Launches Subsidized Sale of 664,000 Digital Devices
17:31
-
Ivory Coast Launches Online Platform for Renewable Energy Tax Exemptions
17:13
-
Brahim Moussa Hassane Launches Digital Wallet Platform in Chad
17:09
-
Dady Emmanuel Ulrich Ismael Redefines Cross-Border Cash Flow with PAL
17:06
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...
West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...
The fast-growing installment payment market is set to expand sharply across the continent, even as s...
Mantengu CEO Mike Miller resigns effective Feb. 28 Deputy CEO Magen Naidoo to take over March 1 Leadership change amid growth at Langpan chrome...
Cameroon’s Ministry of Public Works (Mintp) says its new headquarters in Yaoundé’s administrative district is fully operational and occupied by all...
China will grant duty-free access to South African goods without requiring reciprocal tariff cuts. Pretoria and Beijing signed the CAEPA framework on...
Coris Holding confirmed its plan to enter Gabon’s banking market after expanding into Chad in 2024. BGFIBank Gabon granted 71.29% of new loans in the...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...