Sotelma is finally up for privatisation in Mali

Telecoms

Mali’s Government has published a call for tender for the privatisation of the Société des Télécommunications du Mali ("Sotelma"). Below is an extract of the call.

The Government of the Republic of Mali (the « Government »), as part of its telecommunications sector reform, has decided to privatize Sotelma under the financial advice of the investment bank Linkstone Capital.

The privatisation strategy is as follows :

1. A 51% stake will be sold to a Strategic Partner that meets the prequalification criteria;

2. A 19% stake will be sold in a public offer ;

3. 10% of the share capital will be reserved for the employees of Sotelma.

After completion of these three tranches, the Government will hold a 20% residual shareholding.

Sotelma's key operational highlights as at 31 December 2007 were as follows:

- Provider of fixed line and mobile telephony services.

- A network of about 90.000 fixed lines, 100% digitalized.

- 480.000 mobile subscribers.

- Revenues of about 70 billions FCFA (approximately 107 millions Euros) and an EBITDA of about 25,2 billions FCFA (approximately 39 millions Euros)

Interested potential investors are invited to submit their expressions of interest (the « Dossiers de Candidature ») according to the rules specified in the Prequalification Document (the « Prequalification Document ») which includes (i) a summarized presentation of SOTELMA, (ii) the prequalification criteria and (iii) the information that must be submitted by potential investors. The Prequalification Document is available upon simple request addressed to the Advisor.

An Investors' Conference will take place July 3 2008 in Paris and the Dossiers de Candidature must be received at the latest on 22 July 2008 at 6pm Bamako time.

Investors that are pre-qualified directly or conditionally will be notified at the latest on 28 July 2008 and will receive the Bidding Document which contains the Bidding Rules, the Information Memorandum and the Legal Documentation.

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