[2019-04-29] The 45% stake in Angola Telecom’s to be privatised is worth US$500 million

Source: Macauhub

The 45% share of Angola Telecom’s capital that the government plans to privatise has been valued at US$500 million, said the minister of Telecommunications and Information Technology.

José Carvalho da Rocha, who made statements last week on the sidelines of the inauguration of the new Angola Cables Data Centre in Fortaleza, in the Brazilian state of Ceará, said that this figure is the result of a recent valuation of the company’s assets.

The amount – which values the whole company at US$1.1 billion – takes into account real estate assets, as well as other assets, including telecommunications infrastructure and stakes in companies, including in the banking sector, according to Angolan newspaper Mercado.

The minister, noting that the process of privatisation of Angola Telecom was expected to be launched later this year via an international public tender, said that the final value should be negotiated with the buyer, not only considering the company’s losses, but above all the costs of modernising it.

The privatisation of 45% of the public telecommunications operator has been planned since the end of November 2017, when the Ministry published a notice in Jornal de Angola announcing its intention.