Libya to Sell Stakes in State Owned Mobile Networks

Mergers, Acquisitions and Financial Results

The Libyan government has announced plans to sell small stakes in the country's two mobile phone networks as part of a wider plan to sell off state owned corporations. The IPOs will offer shares in the government's two mobile telephone operators, al Madar and Libyana, as well as in Iron and Steel Company and National Commercial Bank.

Earlier this year, Etisalat said it had submitted a bid for Libya's third mobile phone license, although nothing further has been heard.

According to figures from the Mobile World, Libyana is the dominant operator with 83% of the market, followed by Al Madar. The country has a population penetration level of 134%.

Reuters