Officials meet to resolve Viettel Cameroon shareholder dispute

17 May 2019

Mergers, Acquisitions and Financial Results

Vietnam’s Deputy Minister of Foreign Affairs, Nguyen Quoc Cuong, has met with the Prime Minister of Cameroon, Joseph Dion Ngute, to resolve a dispute between the shareholders of mobile operator Viettel Cameroon, which operates under the brand name Nexttel.

ITWeb Africa reports that the dispute involves the cellco’s shareholders, Vietnamese military-owned Viettel Group (70%) and local company Bestinver Cameroon (30%), which have disagreed on issues such as signatures for financial transactions, the recruitment of staff, engagement of foreign partners, the purchase of telecoms hardware, and technology transfers.

Following the meeting, it was reported that Cameroon will launch an enquiry to investigate the dispute and propose a resolution to end it.

Source: All Africa