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From: as on 9 Aug 2010 17:57
State telecoms firm to find partner

http://www.zimonline.co.za

by Own Corespondent Monday 09 August 2010

HARARE - Zimbabwe mobile phone operator Net One, which has been linked
to
acquisition by MTN South Africa and other foreign suitors, has said it
expects to wind up negotiations before the end of the year.

Wholly state-owned Net One is the third largest mobile phone operator
in
Zimbabwe behind privately owned operators, Econet Wireless Zimbabwe and
Telecel Zimbabwe.

"We are still in talks, whatever stake that is sold must be sold at the
right price," Net One boss Reward Kangai said.

"It's not just MTN, but there are others whom have shown interest. The
negotiations will be completed soon, which will be before the end of
they
this year. The problem is that some these firms want to get our assets
at a
discount."

Kangai would not be drawn into saying exactly how much stake the
government
looked to offload to a foreign partner or what was holding back
negotiations
with especially MTN which began several months ago and appear to be
dragging
on behind closed doors endlessly.

Previously, the state had indicated that it wants to offload as much as
60
percent but this was later revised to 45 percent with some in
Zimbabwe's
ruling coalition reportedly against surrendering of a firm they
consider
strategic to a foreign partner.

About 40 percent of Zimbabwe's population of 12 million people has
access to
mobile phones.

The government has said it wants to sell off, restructure or
commercialise
its companies to save money and improve efficiency at the poor
performing
firms.

Local economic experts and the International Monetary Fund say the
government owned firms have been a huge millstone on the fiscus,
gobbling up
billions of dollars in subsidies every year despite many of the firms
being
monopolies in their areas of trade.

Critics say most of Zimbabwe's parastatals have been ruined by poorly
qualified managers - many aligned to President Robert Mugabe's Zanu
(PF)
party - who were put in charge of the government firms because of their
political connections not technical know-how. - ZimOnline.

From: Brane Mustav Excaped on 9 Aug 2010 22:42
Idiot Negro


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