Guine Telecom to receive USD50m in Chinese investment

China is to invest USD50 million to develop telecommunications facilities in Guinea Bissau’s national PTO Guine Telecom under the terms of a bilateral agreement between the two countries.

Guine Telecom is technically 49%-owned by Portugal Telecom, but the Portuguese firm recently relinquished its management control due to a EUR30 million (USD67 million) debt owed by the Guinean government.

The deal with China includes the installation of a fibre-optic network to span the entire country, from the border with Senegal in the north to Guinea in the south.

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