Rwanda: Libyans Enter Race for Rwandatel

Mergers, Acquisitions and Financial Results

Lap Green Networks, a Libyan company that recently bought out 69 per cent of Uganda Telecom (UTL), is among the six companies bidding for Rwandatel. Rwandatel announced recently that 70 per cent of its shares will be sold by the end of October.

The government has emphasised that eligible bids must fulfil at least 80 per cent of the requirements established by a ad hoc committee created by the Minister of Finance and Economic Planning.

The six bidders include telecoms giants Vodacom Group of South Africa and Celtel - Africa's third-largest cell phone company by subscriber numbers. Others are V-Tel Holdings of Jordan, Bit Map Ltd of Singapore and Rwanda's R-Com.

Sources said if Lap Green won the bid it would operate a borderless network between Uganda's UTL and Rwandatel. Lap Green is owned by Libya Africa Investments Portfolio for Africa, a consortium set up to reorganise the interests of the Libyan government on the continent. The company, which has invested US$4 billion in cash and owns $3 billion in assets, also owns Mali's premier telecom company, Sahelcom.

East African