The government of Tanzania is set to buy back Bharti Airtel’s stake in the state-run Tanzania Telecommunications Corp (TTCL) in a move that will give it full ownership of the firm.
Bharti Airtel, a local subsidiary of India’s telecom giant owns 35 percent stake in TTCL) while the state owns 65 percent. The state is seeking new investors into the company as it prepares the firm to manage the country’s national fibre optic network.
According to a statement, President Jakaya Kikwete was Thursday in talks with Sunil Bharti Mittal, Bharti Airtel Chairman in Dar es Salaam.
There are seven mobile telcos in the country competing for the 25.9 million fixed line and mobile phone subscribers. Bharti Airtel Tanzania Ltd is the country’s second-largest after Vodacom Group’s Vodacom Tanzania.