Namibia: CRAN blocks government MTC buyout plan

Namibia: CRAN blocks government MTC buyout plan

The Communications Regulatory Authority of Namibia (CRAN) has blocked a plan by the government to buy the remaining 34% stake in cellco Mobile Telecommunications (MTC) it does not currently own, writes The Namibian. At present, the Namibian government owns 66% of MTC through its investment vehicle Namibia Post and Telecommunications Holdings (NPTH) and last year agreed an NAD3 billion (USD158.1 million) deal with Luxembourg-based Samba for its 34% stake in MTC. The move would see MTC become wholly state-owned, however, this week the CRAN board blocked the application, partly due to concerns over the future ownership of NPTH.

Source: Telegeography



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