nngu007
JF-Expert Member
- Aug 2, 2010
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Jamani Nimepata hii habari kuhusu ZAIN kununuliwa na AIRTEL na Serikali Yetu Bado ina Ubavu wa kuchunga rasilimali zetu pamoja na UFISADI tafadhali soma hiyo habari na nimehighlight information Murua. Nchi Zingine za Africa hazikuwa na Ubavu Huo.
BHARTI Airtel of India, which recently completed a US$10.7 billion purchase of Zain African operations from Kuwaits Zain Group, could be heading into troubled waters in Tanzania, as the government there has reportedly blocked its shares.
The Tanzanian government announced last month that it would receive $11.2 million and also retain its 40 per cent stake in Zain Tanzania, following the sale of the company to Bharti Airtel. Tanzania was the only operation where government has retained a stake.
Local Press reported on Friday showed that Bharti Airtel has offered a $11 million bid to buy off the 40 per cent stake owned by the government in Zain Tanzania, but the government now maintains it will not sell its holding, and will instead look to buy back the majority of the company that it does not currently own.
The latest news is the Tanzanian government was working on an acquisition strategy of its own and accused management of the company of not fully communicating the sale agreement.
According to Telegeography News, the Tanzanian government claims the acquisition of the Zain Tanzania operation by Bharti Airtel contradicted the partnership agreement between Zain Tanzania and national fixed line operator Tanzania Telecommunication Company Limited (TTCL).
Alongside its stake in Zain Tanzania the Kuwait group owned 35 per cent of TTCL.
However, an agreement signed in April 2010 saw Zain agree to sell its TTCL stake back to the government in order for TTCL to be wholly owned by the state.
In Zambia, 20 per cent of shares in Zain Zambia are held by minority shareholders through the Lusaka Stock Exchange (LuSE), and Bharti Airtel has indicated that it would be asking the minority shareholders to sell their stake to the Indian investor,
Now, in addition to wanting to reacquire Zains stake in Zain Tanzania, the Tanzanians want to make TTCL a 100 per cent government-owned firm, hoping the company would be able to compete with private operators in the local market.
The Ministry of Finance and Economic Affairs permanent secretary permanent secretary, Ramadhan Khijjah, was quoted as saying Zain Tanzanias management did not fully communicate information about the Bharti Airtel deal to the relevant government authorities.
Earlier this month, the countrys Minister for Higher Education, Science and Technology, Peter Msolla, told the National Assembly that the government was still in talks with Bharti Airtel concerning the sale.
In a debate on the countrys budget for the 2010 -11 financial year, Professor Msolla said: We met with the companys officials on June 21 to discuss the sale.
We have told them to finalise the evaluation of the assets so that we can determine whether the payment made to us is satisfactory, he said.
The minister said: Since the government has shares in the company, it is imperative that it be involved in transactions regarding the sale. The shares we hold in the company are assets that ensure our role is not underestimated.
He said a big mistake had been made and being a shareholder, the Tanzanian governments involvement in the companys transactions was a must.
As far as I am concerned, we are not done yet. They cannot say they have sealed a deal when we are still carrying on with talks, Prof Msolla said.
He was answering questions on whether government was involved in the negotiations for the Zain take over, and whether the country would benefit from the takeover of the company.
Bharti Airtel international chief executive officer Manoj Kohli, who was in Zambia on June 24, said the investor would welcome minority investors who would want to remain in the company when it makes a mandatory offer to LuSE next month and September
The members of parliament also wanted to know why the government had not offloaded the shares on the Dar es Salaam Stock Exchange (DSE), since they passed a law requiring all mobile phone operators to list on the exchange.
In Zambia, 20 per cent of shares in Zain Zambia are held by minority shareholders through the Lusaka Stock Exchange (LuSE), and Bharti Airtel has indicated that it would be asking the minority shareholders to sell their stake to the Indian investor,
Bharti Airtel international chief executive officer Manoj Kohli, who was in Zambia on June 24, said the investor would welcome minority investors who would want to remain in the company when it makes a mandatory offer to LuSE next month and September
Except for Sudan and Morocco, Bharti Airtel has acquired Zain Africa operations in all other African countries where it operates, which include among others Burkina Faso, Chad, Congo, Democratic Republic of Congo (DRC), Gabon, Ghana, Kenya, Tanzania, Uganda and Zambia .
BHARTI Airtel of India, which recently completed a US$10.7 billion purchase of Zain African operations from Kuwaits Zain Group, could be heading into troubled waters in Tanzania, as the government there has reportedly blocked its shares.
The Tanzanian government announced last month that it would receive $11.2 million and also retain its 40 per cent stake in Zain Tanzania, following the sale of the company to Bharti Airtel. Tanzania was the only operation where government has retained a stake.
Local Press reported on Friday showed that Bharti Airtel has offered a $11 million bid to buy off the 40 per cent stake owned by the government in Zain Tanzania, but the government now maintains it will not sell its holding, and will instead look to buy back the majority of the company that it does not currently own.
The latest news is the Tanzanian government was working on an acquisition strategy of its own and accused management of the company of not fully communicating the sale agreement.
According to Telegeography News, the Tanzanian government claims the acquisition of the Zain Tanzania operation by Bharti Airtel contradicted the partnership agreement between Zain Tanzania and national fixed line operator Tanzania Telecommunication Company Limited (TTCL).
Alongside its stake in Zain Tanzania the Kuwait group owned 35 per cent of TTCL.
However, an agreement signed in April 2010 saw Zain agree to sell its TTCL stake back to the government in order for TTCL to be wholly owned by the state.
In Zambia, 20 per cent of shares in Zain Zambia are held by minority shareholders through the Lusaka Stock Exchange (LuSE), and Bharti Airtel has indicated that it would be asking the minority shareholders to sell their stake to the Indian investor,
Now, in addition to wanting to reacquire Zains stake in Zain Tanzania, the Tanzanians want to make TTCL a 100 per cent government-owned firm, hoping the company would be able to compete with private operators in the local market.
The Ministry of Finance and Economic Affairs permanent secretary permanent secretary, Ramadhan Khijjah, was quoted as saying Zain Tanzanias management did not fully communicate information about the Bharti Airtel deal to the relevant government authorities.
Earlier this month, the countrys Minister for Higher Education, Science and Technology, Peter Msolla, told the National Assembly that the government was still in talks with Bharti Airtel concerning the sale.
In a debate on the countrys budget for the 2010 -11 financial year, Professor Msolla said: We met with the companys officials on June 21 to discuss the sale.
We have told them to finalise the evaluation of the assets so that we can determine whether the payment made to us is satisfactory, he said.
The minister said: Since the government has shares in the company, it is imperative that it be involved in transactions regarding the sale. The shares we hold in the company are assets that ensure our role is not underestimated.
He said a big mistake had been made and being a shareholder, the Tanzanian governments involvement in the companys transactions was a must.
As far as I am concerned, we are not done yet. They cannot say they have sealed a deal when we are still carrying on with talks, Prof Msolla said.
He was answering questions on whether government was involved in the negotiations for the Zain take over, and whether the country would benefit from the takeover of the company.
Bharti Airtel international chief executive officer Manoj Kohli, who was in Zambia on June 24, said the investor would welcome minority investors who would want to remain in the company when it makes a mandatory offer to LuSE next month and September
The members of parliament also wanted to know why the government had not offloaded the shares on the Dar es Salaam Stock Exchange (DSE), since they passed a law requiring all mobile phone operators to list on the exchange.
In Zambia, 20 per cent of shares in Zain Zambia are held by minority shareholders through the Lusaka Stock Exchange (LuSE), and Bharti Airtel has indicated that it would be asking the minority shareholders to sell their stake to the Indian investor,
Bharti Airtel international chief executive officer Manoj Kohli, who was in Zambia on June 24, said the investor would welcome minority investors who would want to remain in the company when it makes a mandatory offer to LuSE next month and September
Except for Sudan and Morocco, Bharti Airtel has acquired Zain Africa operations in all other African countries where it operates, which include among others Burkina Faso, Chad, Congo, Democratic Republic of Congo (DRC), Gabon, Ghana, Kenya, Tanzania, Uganda and Zambia .
