Court closes door on Libercell for failure to stump up licence fees

31 Jul 2012

Liberian mobile operator Atlantic Wireless (Libercell), majority owned by Kuwaiti based African investment vehicle HiTS Telecom Holding, has been ordered to close by the country’s tax court, for its failure to pay its licence fees. The cellco owes the government around USD1.5 million in unpaid fees and has been shut down until it clears its debts. Libercell CFO Abdallah Sbeiti says that talks are under way with HiTS Telecom’s African holding firm to have the monies sent and could take about three days.

TeleGeography’s GlobalComms Database writes that in November 2010 HiTS Telecom’s African investment vehicle raised its equity stake in Liberian mobile operator Atlantic Wireless (Libercell) from 30% to 55%, in a deal worth USD17 million.