Partners sought for Guinea Telecom launch; 27.5% GUILAB stake for sale

11 April 2019

Mergers, Acquisitions and Financial Results

The Government of the Republic of Guinea is continuing to seek ‘technically reliable and financially robust’ partners for the planned launch of a new mobile/broadband/fixed telecoms operator under the Guinea Telecom banner to replace the defunct former incumbent Sotelgui, reports Agence Ecofin. Guinean telecoms minister Moustapha Mamy Diaby, speaking to L’Independent newspaper, noted that a mooted tie-up with Huawei was not a possibility as the Chinese tech giant was ‘not interested’ in a partnership with Guinea Telecom, a company which currently only exists on paper. Furthermore, the minister added that other major equipment manufacturers were likewise disinterested in an ownership role in the project.

Separately, the minister also disclosed the government’s intention to divest new shares in telecommunications infrastructure provider and international gateway operator Guinean Broadband (Guineenne de la Large Bande [GUILAB]). The state, which initially owned 100% of GUILAB, today holds 52.52% of the operator’s shares, and plans to release a further 27.52% to retain a 25% stake.

Source: Telegeography