Sotelma details privatisation process

31 Jul 2008

Further details regarding the privatisation of fixed line incumbent Societe des Telecommunications du Mali (Sotelma) have been announced by the telco’s CEO, Lassana Ndiaye. The process will see a 51% stake sold to a strategic investor, and Sotelma has confirmed that 10% and 19% stakes will be reserved for employees and institutional investors, (including the public), respectively. The remaining 20% will be retained by the state. The process for privatisation is due to begin in October this year and it is understood that the sale is expected to raise funds to help Malitel, the wireless subsidiary of SOTELMA, to expand its network infrastructure.