New telco Orange Ivory Coast established
The Ivorian government has signed a merger deal with the Orange Group that will give the French telco greater control in the national fixed line carrier, Ivory Coast Telecom.
The merger, which has been an ongoing topic of discussion for four years, will be completed in June and will facilitate the introduction of a single entity called Orange Ivory Coast.
According to the Ivorian Minister of the Digital Economy, Bruno Koné, the State of Ivory Coast will hold 31% stake in the new entity against 69% for the Orange Group. It benefits the state in many ways, he said, especially as the operation would be realised without any financial commitment on its part.
Aside the expansion drive, the merger is also expected to encourage the simplification of internal management procedures to raise funds more easily to finance investments, particularly in the optical fiber sector.
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