France Telecom closes in on Congo's CCT stake

Government of DRC agrees to sell its stake in CCT to France Telecom.
Stephane Richard said that France Telecom is keen to expand in the MEA region.
Stephane Richard said that France Telecom is keen to expand in the MEA region.

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The government of the Democratic Republic of Congo has agreed to sell its 49% stake in CCT, the country's fourth largest mobile operator, to France Telecom, according to a report from Reuters.

DRC’s public treasury will reap $64 million from the transaction, plus more than $10 million in taxes and other payments, Jacques Baikpon, chief of staff at DRC’s telecoms ministry told Reuters.

France Telecom is already in exclusive negotiations with Chinese vendor ZTE to buy its 51% stake in CCT, the report added.

Last month, France Telecom’s CEO, Stephane Richard, told Bloomberg Television that his company was studying acquisition targets in the Middle East and Africa.

Richard said that France Telecom was “working on several targets” and added that the company may also establish partnerships to share the cost of entering new markets.
 

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