BTC sale now scheduled for 31 December

Mergers, Acquisitions and Financial Results

The much delayed privatisation of Botswana Telecommunications Corporation Limited (BTC) is now expected to go ahead on 31 December 2014. Having initially been planned for 2011, the sale first ran into problems in 2012, before an IPO was cancelled in August this year. The sale was then rescheduled for 7 November, but problems with the sale of shares to employees caused yet another postponement. The government will offer a total of 49% of BTC’s shares in the IPO, of which 44% will be available for purchase by individual investors and Batswana companies, and 5% will be reserved for the telco’s employees through an Employee Share Ownership Programme (ESOP).

Source: Telegeography 27 November 2014