Portugal Telecom takes over Namibia’s MTC

27 Mar 2006

Portugal Telecom (PT) has won a tender for a 34% stake in Namibia’s only mobile operator Mobile Telecommunications(MTC), beating a rival offer from South Africa’s MTN. In its bid, PT pledged to assist in the technological development of the African cellco and take an active role in the company’s management. MTC has around 410,000 subscribers and a network covering 88% of the population, in a country of 1.9 million inhabitants. It was established a decade ago as a joint venture between state holding company Namibia Post and Telecommunication and Swedish telecoms group TeliaSonera via Swedfund International, which sold its stake in May 2004. Its revenues in 2004 were EUR113 million (USD136 million).