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Tanzania Wont Sell its Stake in Airtel Subsidiary

Discussion in 'Jukwaa la Siasa' started by nngu007, Jan 9, 2012.

  1. nngu007

    nngu007 JF-Expert Member

    Jan 9, 2012
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    By: Ian Mansfield | 30th Dec 2011

    The Tanzanian government has said that it has no plans to sell its 40% stake in the local Airtel subsidiary - mainly due to the success of the mobile money service offered by the network.

    India's Bharti Airtel holds the remaining 60% of the company, following its purchase from Zain. That transaction was delayed in Tanzania following a dispute over an alleged previous deal by Zain to sell its stake to the governent.

    Last year, Bharti Airtel offered US$11 million to buy out the government's 40% stake in the company.

    The Minister for Finance and Economic Affairs, Mustafa Mkulo, told The East African Business Week that the Government will not be off-loading its shares because of the profitability of the service.

    Minister Mkulo added: "We have decided to continue with you until further notice because there is no risk of losing our tax payers money … We want to still maintaining our dividend."
  2. nngu007

    nngu007 JF-Expert Member

    Jan 9, 2012
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    I hope not Ministers and their big cats are planning to buy that government 40% shares

    CCM are very tricky they can steal any time during the day time or night time or even during the time when there is nothing to steal
  3. M

    Mgongo wa paka JF-Expert Member

    Jan 10, 2012
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    this action taken to our gorvenment still best that what we need. the gorvement may convice air tel india to reduce her stake even 10% from her 60% then tanzania will gain be 50% to 50%, i think this will be courage step to our nation
  4. MtamaMchungu

    MtamaMchungu JF-Expert Member

    Jan 10, 2012
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    Hapo kwenye bold and black, is this serious??? I have little knowledge as far as capital markets are concerned, but I guess this means Airtel Tanzania is worth US$ 27.5 million !!!!

    Hebu tusaidiane wale wenye ujuzi wa hivi vitu...
  5. Nduka Original

    Nduka Original JF-Expert Member

    Jan 10, 2012
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    I also got confused, Trying to compare Movenpick Hotel in Dar sold to Serena Lodge for US$40 million (A single Hotel)