AREEBA SETS UP IN GUINEA WITH 18 YEAR LICENCE BUT ROW OVER TENDER RUMBLES ON
Areeba-Guinea, a subsidiary of Investcom is setting up following a long political imbroglio that has seen the Minister of Post and Telecommunications in open conflict with the Prime Minister over the tendering for the fourth mobile licence in Guinea. Senegalese incumbent, Sonatel, was at one point thought to be the winning bidder.
The Sonatel’s 21 millions Euros offer was however declined in favour of Investcom’s one. The company has offered 30 millions euros for the licence, of which 15 millions will be paid up front to the State of Guinea. The licence has been granted for 18 years along with a package of generous tax exemptions.