FT enters DRC via CCT

3 Oct 2011

France Telecom (FT) has agreed to purchase the 49% stake held by the Democratic Republic of Congo’s government in Congo Chine Telecom (CCT). The head of the Congolese telecom ministry, Jacques Baikpon said that the deal would generate more than USD74 million for the treasury; USD64 million for the share of CCT plus ‘more than USD10 million in the form of taxes and other payments,’ Reuters reports. FT has described CCT as heavily indebted, and any deal would require restructuring the company’s liabilities. FT is also involved in exclusive talks with China’s ZTE, which owns the remaining 51% of the telco.

According to TeleGeography’s GlobalComms Database, in June 2011 CCT was the smallest of the four operators in the country with an 11.4% share of the wireless market.

Congo, Dem. Rep., Orange DRC, Orange Group, ZTE