Comium Liberia sold for USD18m, paper says

31 Jul 2012

The Heritage newspaper reports ‘credible’ sources as saying that Liberian mobile network operator Comium Liberia has been sold to Lebanese businessman Mr George Abou Joaude for USD18 million. The unconfirmed source says that the influential entrepreneur, who works in Liberia, has close ties to the country’s ‘first family’, and that in fact Abou Joaude is acting as a ‘front’ for the first family in the alleged sale. The paper goes on to say that the sale of GSM operator Comium Liberia includes the assumption of local debt. The cellco was recently informed by the Liberia Telecommunications Authority (LTA) that its licence would be cancelled unless it resolved certain debts owed to the government. The Heritage goes on to suggest that the sketchy report alleges that Mr Abou Jaoude plans to re-sell Comium Liberia to make ‘a huge profit for him and a member of the first family’. Neither Abou Jaoude nor Comium could be reached for comment, although the commissioner for public and consumer affairs at the LTA, Mr Lamini Warity, reportedly confirmed that shares of Comium Liberia have indeed been sold.

Liberia, Novafone (formerly Comium Liberia)