Government assumes management of Libyan-controlled telco

11 Apr 2011

Dow Jones Newswires writes that the government of Uganda has assumed management control of the country’s troubled Libyan-owned telco, Uganda Telecom. In a statement earlier this month, Uganda’s minister of information and communications technology, Aggry Awori, said that as a shareholder the state could not simply ‘sit and watch’, and stepped in to safeguard its interests and those of the telco’s customers. The Libyan Arab Portfolio, or LAP Green Network, holds a majority stake in Uganda Telecom.

Uganda, Uganda Telecom Limited (UTL)