PRESS CONSORTIUM CONCLUDES REVIEW OF MALAWI TELECOM ASSETS
The Privatisation Commission (PC) has said the Press consortium, the preferred bidder for the Malawi Telecommunications Limited (MTL), has completed its assessment of MTL’s assets. Susan Banda, PC information, education and communications manager, told journalists during a monthly briefing that a report is expected soon.
"Following the completion of this exercise, the Government of Malawi, through members of the MTL steering committee also conducted its own due diligence of the consortium team members," she said in a written statement.
Press Corporation Limited group Chief Executive Matthews Chikaonda said in March this year the Development Bank of South Africa (DBSA) joined the consortium that also includes Commonwealth Development Commission (CDC) and Germany’s Detecon as a financier.
The PC announced last November cabinet opted for the Press-CDC-Detecon consortium on November 10, 2003 as opposed to the other short-listed consortium of Telecommunication Consultants India Limited/Mahagar Telephone Nigam (MTN)
Detecon International, which will be the managing partner, is one of Europe’s biggest telephone companies with interests in more than 55 countries in the world including managing ground phone operators in Tanzania, Uganda and South Africa, among other African countries.