VimpleCom through Global Telecom Holding S.A.E. has offloaded Telecel Globe Limited (“TG”) which had stakes in U-COM in Burundi and Telecel CAR in Central African Republic. The company has sold its 100% stake for a reported USD 65 million.
TG was later acquired by Econet Wireless Global Limited which has operations in other African countries.
“We have previously outlined our Value Agenda within which our operations are reviewed to assess their future value to the Group. The decision to sell our operations in CAR and Burundi is a result of this process,” Andrew Davies, Chief Financial Officer of VimpelCom, commented.
Global Telecom Holding was looking to sell its business in quarter 1 of 2013 to an unnamed company.