Net One fishing for capital via IPO, Chamisa suggests

25 Aug 2009

Zimbabwe’s ICT minister, Nelson Chamisa, has announced that government plans to recapitalise state-owned cellco Net One could be implemented either via an initial public offering (IPO) or through a strategic partnership. Either option would see the government relinquishing up to 60% of shares in the GSM operator to gain enough capital to finance major expansion plans, he said, adding that ‘Net One is one of the four parastatals that the government is planning to recapitalise as soon as possible. We are looking at a number of recapitalisation models… For Net One, we are looking at either public listing or technical partnership. The more efficient of the two is what we will go for.’

Zimbabwe, NetOne