Telekom Malaysia to quit Guinea

21 Jan 2005

Telekom Malaysia has announced plans to exit the Guinean telecoms market as part of a plan to focus on countries closer to home. The operator has had a presence in Guinea since 1995 when it paid USD45 million for a 60% stake in fixed line incumbent Société des Telecoms de Guinée (Sotelgui), and has been involved in the development of the development of the country’s fixed line and mobile infrastructure since then. It first told the Guinean government of its plans to leave in early December and both parties have begun discussions on its exit. Telekom has denied the rumours in an AFP report from Conakry which suggested that the real reason for the move was because it had failed to fulfil its duties in the country, maintaining that the decision was a strategic one.

Guinea, Telekom Malaysia