mCel stake up for sale

22 May 2008

The Mozambican government is planing to sell shares in cellco Mocambique Celular (mCel). The operator is currently 100% state-owned company via Telecomunicacoes de Mocambique (TDM) and holding company Instituto de Gestao de Participacoes do Estado (IGEPE). A date has not been set for the initial public offering (IPO), nor has the proportion of the company that will be made available to investors been revealed, but it is expected to be at least 20%.

According to TeleGeography’s GlobalComms database, mCel has approximately 2.6 million customers, approximately double those of its only competitor, Vodacom Mocambique.

Mozambique, Mocambique Telecom (TMCEL, formerly TDM, mCel)