Vodacom Congo sale back on the cards

21 Nov 2011

Congo Wireless Networks (CWN) has withdrawn its petition to block the sale of Vodacom’s 51% stake in its Democratic Republic of Congo (DRC) operation, Vodacom Congo, in which CWN owns the remaining 49%, reports Bloomberg. Alieu Conteh, the chairman and founder of CWN said: ‘I’ve instructed my lawyers to withdraw the case against Vodacom. Vodacom is selling and we want to assist them in any way we can’. The announcement comes in the wake of a court order issued last month, ordering Conteh to step down temporarily to allow CWN’s shareholders to discuss the sale. Vodacom is divesting its interest in the company to end a long-standing dispute with CWN over the structure and funding of Vodacom Congo. Thus far fellow South Africans MTN Group and Angola’s Unitel have voiced their interest in acquiring Vodacom’s stake.

Congo, Dem. Rep., Vodacom Congo (DRC)