A report by The Namibian newspaper says that a previously announced move by Telecom Namibia to divest its entire 44% stake in Angolan fixed network operator Mundo Startel is nearing completion, with an urgent meeting between local management and the Namibian telco expected soon to finalise the latter’s exit from the joint venture it regards as ‘no longer viable.’ A year after announcing the decision to quit the partnership in May 2011 to scrape back some of its investment in the non-profitable unit, Telecom has scheduled a ‘final’ meeting in Luanda. Corporate Communications spokesperson Oiva Angula told The Namibian: ‘This is a follow-up meeting of the one that was held in March this year during which certain proposals were made after the Angolan partners agreed to buy Telecom Namibia’s shares
Taken from:
OVETEL Startel divestment nearing conclusion?
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