|
Portugal Telecom sells 50.01 percent Mascom Botswana Mobile Phone Network |
|
Sep 22 2004 Portugal Telecom has sold its 50.01 percent stake in Botswana mobile operator Mascom Wireless for EUR 45 million to Citizens Investments. Portugal Telecom will generate an around EUR 26 million capital gain on the sale. Launched in 1998, Mascom had 330,000 customers at end-2003 for 70 percent of the local mobile market. It generated sales of over EUR 65 million in 2003. Portugal Telecom has signed a contract to provide Mascom with management consulting services over the next 10 years. The sale comes as Portugal Telecom consolidates its international operators to focus on core geographic areas such as Brazil.
|
|