LAP Green decides against Rwandatel assets bid

2 Feb 2012

Libyan government investment vehicle LAP Green has reportedly failed to submit a bid to reclaim the assets of its former Rwandan unit Rwandatel. ‘LAP Green was given an opportunity to submit a bid like any other player, but they didn’t submit any, now I can declare them out of the running,’ local newspaper The New Times cites Rwandatel’s administrator, Richard Mugisha, as saying. Last year the commercial court in Nyarungenge ordered the liquidation of Rwandatel in a move aimed at raising funds to pay off the firm’s debts. The operator’s mobile licence was revoked in April 2011, due to its failure to meet licence obligations, but its fixed telephony and internet service provider (ISP) services remain operational as the two services are provided under a separate concession. ‘Because assets will be sold in parts, we have received some bids from successful bidders and are about to close them but we are still evaluating others, causing the delay to the selling date,’ Mugisha said, adding that the process is now expected to be completed by the end of next month.

Rwanda, Rwandatel