Libyan company buys 51% of Uganda Telecom

7 Mar 2007

Green Com, part of Libyan government-owned investment vehicle Libyan Africa Portfolio (LAP), has reportedly acquired a majority stake in Uganda Telecom (UTL). According to reports in the Ugandan press, the Libyan investor has acquired a 51% in the principal fixed line operator, via its acquisition of UCOM. UCOM acquired its stake in utl in June 2000, when the Ugandan government sold it the 51% stake. Shareholders in the original consortium included Detecon of Germany, Telecel International of Switzerland and Egypt’s Orascom Telecom. The Ugandan government will retain a 49% share of the company.

Uganda, Uganda Telecom Limited (UTL)