Pressure mounts on UTL to list shares

2 Jul 2009

Pressure is mounting on Uganda Telecom (UTL) to float a percentage of its stock on the Uganda Securities Exchange (USE) as required by law, writes local daily newspaper The Independent. Earlier this year a study by PricewaterhouseCoopers (PWC) on behalf of the Uganda Communications Commission (UCC) recommended a review of the Uganda Communications Commission Act, which could be amended to require all telecoms licensees to be publically listed. Currently, UTL is the only firm required by law to list its shares on the USE, although to date it has still to do so.

Uganda, Uganda Telecom Limited (UTL)