Vodacom to manage LAP Green's African investments?

26 Feb 2008

According to Balancing Act, South African wireless group Vodacom is close to signing a deal with Libya’s state investment vehicle Libya Africa Portfolio (LAP) Green to take over its recently purchased operations in Rwanda and Uganda. According to the Africa news specialist, a draft of the agreement suggests that Vodacom would take over a majority stake and have technical control, whilst LAP Green would remain a significant minority shareholder.

According to TeleGeography’s GlobalComms database LAP Green acquired a 69% stake in Uganda Telecom (UTL) in April 2007 and six months later acquired an 80% interest in Rwandatel for USD100 million, beating rival offers from the likes of Vodacom, Celtel (now part of the Zain Group), V-Tel Holdings of Jordan, Bit Map (Singapore) and Rwanda’s R-Com.

Rwanda, Uganda, Rwandatel, Uganda Telecom Limited (UTL), Vodacom Group