Angola Telecom finishes restructuring ahead of privatisation

11 October 2019

Mergers, Acquisitions and Financial Results

Angola’s President Joao Lourenco on Wednesday appointed a new Board of Directors for state-owned fixed line operator Angola Telecom, led by Adilson Miguel dos Santos as its new CEO, reports news agency ANGOP.

The move is significant as it reportedly marks the conclusion of the telco’s restructuring process, aimed at streamlining the company for subsequent privatisation. Prior to the appointment of the Board, Angola Telecom was managed by an Interim Management Committee.

The government aims to sell a 45% stake in the telephony and broadband provider, which holds a ‘unified global’ mobile, fixed, internet and pay-TV licence.

Source: Telegeography