Reuters was first to report that French telecoms firm Orange (ORAN.PA) told Reuters on Monday that it had decided to withdraw from the process to purchase an up to 45% stake in Ethiopian operator Ethio Telecom. Orange submitted an expression of interest in 2021 to participate in the partial privatisation of Ethio Telecom, a former monopoly with more than 70 million subscribers.
Deals
France’s Orange withdraws from process to buy stake in Ethio Telecom
28 November 2023, 4:56 am 1 minute
Market Impact
Ethiopia first launched a tendering process for a 40% stake in Ethio Telecom in June 2021 before announcing in March 2022 that it was postponing the sale because of economic conditions. It then revived the process in November 2022 and increased the stake on offer in February.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: MediaTelecommunications
Regions: Africa
Countries: Kenya
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
