The government of Cote d’Ivoire plans to sell its stakes in as many as 15 companies, including Cote d’Ivoire Telecom, Reuters reports. According to Reuters, the privatisation drive – which will include banks, agricultural businesses and a gold mine – is aimed at cutting public debt and increasing competition. Based on a document viewed by the news agency, the government seeks to sell around 28.00% of its 48.47% stake in Cote d’Ivoire Telecom, with the smaller stake valued at around XOF4.27 billion (USD8.95 million).
According to TeleGeography’s GlobalComms Database, the remainder of Cote d’Ivoire Telecom is currently owned by France Cables et Radio, a local unit of France’s Orange Group (51.00%), and Cote d’Ivoire Telecom employees (0.53%). Orange Group acquired its stake in 1997 when the telco was initially privatised.