Telecel Zimbabwe to change its shareholder structure by 31 August

13 Aug 2013

Telecel Zimbabwe’s majority shareholder Telecel International, backed by Orascom Telecom Holding of Egypt (part of Vimpelcom), has pledged to address its shareholding issues and transfer the majority interest in the Zimbabwean mobile operator to local investors by the end of the month, the Zimbabwe Mail reports. According to anonymous sources cited by the local news outlet, representatives of Telecel International recently met with local shareholders and agreed on the method and modalities to sell the equity stake to local investors in order to comply with the licence conditions, which stipulate that 60% of the company should be locally owned.

Zimbabwe, Global Telecom Holding (GTH, formerly OTH), Telecel International, Telecel Zimbabwe, VEON