Doubts over Telma sale emerge after owners get cold feet

18 Oct 2013

Despite drawing interest from pan-African telecoms groups MTN and Vodacom a number of private equity firms, shareholders of Madagascan operator Telma are reportedly re-considering previously stated plans to sell the company. TMT Finance reports that Lazard was drafted in to run the sale process, with the asset valued at up to USD500 million. With political uncertainties also cited as a key concern, a source told the website: ‘The company is doing well and making money. My understanding is that the owners went to the market to see what was out there, but they were never really desperate to sell’.

Madagascar, MTN Group, Telecom Malagasy (Telma), Vodacom Group