Millicom seeks approval for Zantel stake increase

11 January 2019

Mergers, Acquisitions and Financial Results

Tanzania’s Fair Competition Commission (FCC) says it has received a notification from Millicom Tanzania, which operates under the Tigo brand, that it intends to increase its shareholding in Zanzibar Telecommunication (Zantel) and its subsidiary Telesis Tanzania Limited.

If approved, the transaction will see the government of Zanzibar transfer its 15% stake in cellco Zantel to Millicom, giving the latter a 99.9% shareholding in Zantel and Telesis, which provides 4G network capacity and coverage to telecom operators. The FCC is currently investigating the intended acquisitions in line with the provisions of the Fair Competition Act No. 8 of 2003 and the Fair Competition Commission Procedure Rules, 2013.

Source: All Africa