Orange Group has announced the agreement with Africell Holding for the sale of its majority stake in Orange Uganda. This agreement was made in the framework of a regular review of its portfolio of assets, according to Orange.
The company also stated that “this transaction marks a new step in the Orange Group’s asset portfolio optimisation strategy for which Africa and the Middle-East remain a strategic priority.”
This transaction is subject to approval from the relevant authorities. Orange states that this agreement will “enable the company in Uganda to continue its development.”
Orange reported to CommsMEA that the agreement is expected to be completed "this year". "We do not know the calendar yet", stated the company.
Orange Uganda, which was created in 2008, is the third telecoms operator in Uganda and had 620,000 clients at the end of December 2013.