Workers acquire 10% stake in Mozambique’s TDM

Mergers, Acquisitions and Financial Results

According to unconfirmed local press reports, management, technical personnel and other workers at state-owned Telecomunicacoes de Mocambique (TDM) have acquired 10% of the state-owned company’s share capital.

Under the terms of a decree covering TDM’s transition from a public company to a limited liability company, a maximum 20% stake was made available by state shares-management agency the Instituto de Gestao das Participacoes do Estado (IGEPE).