Eight in for Sotel Chad

Mergers, Acquisitions and Financial Results

Eight parties have met the criteria for pre-qualification ahead of the privatisation of Chadian telco Sotel, in which the government is selling an 80% stake, TMT Finance has learnt.

The tender process has now officially started and the various parties have been invited to submit bids ahead of the April 18, 2014 deadline, sources said. South African firm Civitas Partners is advising the government on this process.

Maroc Telcom is thought to be one of the bidders, as the company has a strong interest in fixed telecom and Sotel currently holds the monopoly on fixed line telephony. Chad mobile operators Airtel and Tigo are also likely to consider acquiring Sotel, sources said.