In brief

22 March 2019

Mergers, Acquisitions and Financial Results

The government of Zimbabwe is hoping to raise USD350 million from the sale of shares in five state-backed companies, including three telecoms operators. The African country, which is currently experiencing a severe cash crisis, plans to sell stakes in cellcos NetOne and Telecel, plus fixed line operator TelOne, as well as interests in postal operator Zimpost and POSB bank. Reuters cites Finance Minister Mthuli Ncube as saying: ‘Work is already underway to identify transaction advisers.’