LAP Green has UTL stake returned

25 May 2012

Reuters reports that Uganda has returned a 69% stake in Uganda Telecom Limited (UTL) to its Libyan shareholders LAP Green. The majority stake was seized early last year as part of sanctions on former Libyan leader Muammar Gaddafi. ‘Shareholders and directors of its wholly owned subsidiary UCOM … have now resumed their management control responsibilities of Uganda Telecom Limited (UTL),’ state-owned LAP Green said in a statement. According to TeleGeography’s GlobalComms Database, UTL ended March 2012 with an 11.6% share of the Ugandan mobile subscriber market.

Uganda, LAP Green Network, Uganda Telecom Limited (UTL)