Telecel Group has bought two West African units from MTN Group as it scales operations ahead of a future listing.
bought two West African units from MTN Group as it scales operations ahead of an initial public offering in three years.
The Africa-focused telecommunications company is buying MTN’s debt and equity in Guinea-Bissau and Guinea-Conakry, CEO Moh Damush said in an interview, without disclosing the size of the latest acquisitions. This follows the“Dubai and London seem to be our preferred options for a listing,” Damush said. “We are also interested in further developments in the next years that would allow considering African bourses.
Other than financing from shareholders, Telecel is also raising money from Africa-focused funds, banks, equity investors for the acquisitions, he said.Damush and partners Hugues Mulliez and Nicolas Bourg acquired Telecel in 2017. The firm has interests in several markets such as Ghana, Central Africa Republic and Liberia. —
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