Telkom in talks to buy Uganda Telecom stake

8 Jan 2007

According to a report carried by Reuters, South Africa’s Telkom is in talks to buy a stake in Uganda Telecom. Telkom is reported to be in discussions with Ucom, a consortium 60% owned by Telecel, Germany’s DeTeCon (20%) and Egypt’s Orascom (20%), which is owner of a 51% stake in the telco. According to Ugandan media reports, Telkom is close to agreeing a deal to buy Ucom’s entire stake; the rest of the company will continue to be owned by the government.

Uganda, Telkom South Africa, Uganda Telecom Limited (UTL)