Government plans IPOs for both cellcos

23 Nov 2009

Reuters reports that the Libyan government plans to sell stakes in both state owned wireless operators in 2010. Libyana and Al Mader are currently wholly owned by the Libya Post and Telecommunications Information Technology (LPTIC), but the situation appears set to change if the government carries out its plan to launch IPOs in both companies next year. Rumours emerged in 2007 that the state was considering part privatisation of the cellcos, but until now there had been no further developments. According to TeleGeography’s GlobalComms Database, at the end of June 2009 Libya was home to approximately 7.7 million wireless subscribers, with Libyana boasting an 87% share of the market.

Libya, Almadar Aljaded (Al Madar Telecomm Company), Libyana