The Tanzanian government has reportedly claimed that Bharti Airtel’s local unit belongs to state-owned Tanzania Telecommunications Company Limited (TTCL), Bloomberg writes. President John Magufuli said to national broadcaster TBC: ‘Airtel, according to the information we have, is an asset of Tanzania Telecommunications … A terrible game was played. I don’t want to say more than that.’
As previously reported by TeleGeography’s CommsUpdate, in June last year an amendment to the Electronic and Postal Communications Act of 2010 made it a legal requirement for the country’s telecoms operators to float at least 25% of their shares on the Dar es Salaam Stock Exchange (DSE). Vodacom launched its initial public offering (IPO) in March this year, although it was only open to local investors. Airtel has yet to list Airtel Tanzania, in which the government has a 40% stake.