Uganda Telecom denies sale report

14 Mar 2007

Uganda Telecom (utl) has denied reports, circulating earlier this week, that claimed Libya Africa Portfolio’s (LAP) Green Com had acquired a majority share in the company. ‘This is not factual. Uganda Telecom has not been acquired by LAP or any other entity,’ said Mark Kaheru, the company’s marketing communications officer. ‘UCOM, one of the major shareholders [in Uganda Telecom], is selling part of its shareholding and is in negotiations. Nothing has been concluded,’ he added. Last week, sources disclosed that Green Com, the investment arm of the Libyan government, acquired 51% of utl after buying out UCOM.

Uganda, Uganda Telecom Limited (UTL)