Govt pushes for formal Orange, CI-Telecom merger

Mergers, Acquisitions and Financial Results

The Ivorian government has reportedly urged fixed line incumbent Cote d’Ivoire Telecom (CI-Telecom) and its sister company Orange Cote d’Ivoire to work towards a formal merger, citing the industry trend for convergence.

Following a meeting chaired by president Alassane Ouattara, it was decided that the two businesses – which remain separate business entities with different shareholder structures – should ‘take appropriate measures to follow up the implementation of the proposed merger as quickly as possible, while safeguarding the best interests of the state’.

Agence Ecofin claims that the major shareholders of both companies have agreed in principle to the plan, and are committed to a transparent merger process.

Source: Agence Ecofin