BUSINESS & ECONOMY INDICATORS TRENDS FORTUNE+ VIDEO TENDERS JOBS SPONSORED CONTENTS FORTUNE AUDIO

COVID-19 UPDATES: All the stories and commentaries on Coronavirus, in one place


Global Firms Eying Contract to Advise Govt on Telecom Partial Privitisation

Ernst & Young (EY) has placed lowest offer

June 17 , 2020

Four global consulting firms have appeared yesterday offering their service and expertise to advise on the partial privitisation of the state-owned Ethio telecom. Ernst & Young (EY) has made the lowest offer, bidding against Deloitte, PwC and Ronald Berger.

Issued by the Ministry of Finance in October of last year, the bid had initially drawn the attention of five companies: Roland Berger, PwC, KPMG, EY and Deloitte. KPMG was disqualified due to conflict of interest that could arise following its ongoing contract with Ethio telecom in conducting the asset valuation, according to officials undertaking the bid process.


The firm to be awarded will have the job of preparing the the bid documents for the partial privatisation, reviewing the initial determination of the minimum value, and undertaking legal due diligence including taxes, contracts and liabilities.

The Ethiopian government has decided to divest 45pc of the company for privatisation, keeping 55pc under state ownership. Five percent will be availed for public subscription.

Put your comments here


Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Ethiopia Ought to Capitalise on China’s Global Economic Leap Forward

Sino-Africa economic and development relations have a long history. In modern times,...

The Many Tentacles of Regional Planning

The Council of Ministers has recently green-lighted Ethiopia’s 10-Year Perspective...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country’s most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or tw...

Editorial

Not to Undo Abiy Ahmed's Pledge for Credible National Elections

January 9 , 2021

There is something curious about elections that have been conducted in Ethiopia since...

To Millions Suffering, IGAD Continues to be a Disappointment

January 2 , 2021

One by one, Workneh Gebeyehu (PhD), executive secretary of the Intergovernmental Auth...

Economic Planning Needs to Learn the Cost of Indiscipline

December 26 , 2020

It is refreshing to see a publicised high-level government meeting become somewhat co...

When War Is Life, Peace Becomes Death

December 19 , 2020

There is no shortage of ironies in Ethiopia’s history. One of the cruellest, perhap...

Gallery

2020 in Posterity

January 5 , 2021

With an election initially expected to be held in 2020, the past year was supposed to be eventful. It did not disappoint. In fact, it outpaced expectations. Much of 2020 was talked about, analysed and debated. And thanks to technology, it was caught...

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

September 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

December 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

April 26 , 2019

Mourning Nation, Grieving World

March 17 , 2019

Sunday With Eden

What It Takes to Not Repeat 2020

The COVID-19 pandemic, having seen over 126,000 cases reported across Ethiopia and leading to the deaths of around 2,000 people, had a silve...

To Find Inspiration, Look to the Most Personal

Five years ago, I met James and his family in Paris, near the Eiffel Tower. We were both taking pictures...

Life Matters

The Dangers of Nocturnal Taxi Service

Recently, a friend left his job, bought a car and registered to work for a taxi-hailing service provider...

In Superstitious Universe, Keep to Oneself

Sometimes we are confident that things will work out for us. If we close our eyes, we can vividly see...

In-Picture

Drop us a message

Or see contact page