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Ministry Offers 40pc of Ethio Telecom's Stake for Acquisition

May 21 , 2020

The Ministry of Finance has decided to transfer 40pc of Ethio telecom to private owners, a decision that will allow the government to retain a majority holding of the company.

The Ministry is also in the process of hiring a transaction advisor that will oversee the partial privatisation process of the over-a-century-old company and shepherd it from the pre-preparation to final endorsement phases. Ethio telecom hired KPMG East Africa to conduct an asset valuation; a second draft report on the work has already been submitted a month ago.

In addition to ending the monopoly of the telecom industry, the government is also in the process of issuing operating licenses for two telecom service providers that will operate along with Ethio telecom. The Ethiopian Communications Authority has launched a request for Expressions of Interest (EOI) today to issue two new telecommunications licenses.

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