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Amount of shares offered for sale increased to 45 percent – reported.

An international tender has been issued to transfer part of the institution to the private sector

On Friday, February 3, 2015 (New Morning), the international media reported that the Ethiopian government has increased the stake in Ethio Telecom from 40 percent to 45 percent.

After the government-initiated bid to sell the shares of Ethio Telecom resumed since last November, yesterday Thursday the Ministry of Finance increased the company’s shares offered for sale.

With this, it is said that it is intended to offer 45 percent of Ethio Telecom to international investors. It is stated that the companies who want to participate in the auction can provide a non-refundable 20 thousand dollars and a guarantee within 13 days.

Previously, the sale had been delayed due to economic issues, and when the sale process started again in November, companies that wanted to buy 40 percent of Ethio Telecom were asked to submit their expressions of interest. So far, there has been no word on the existence of organizations that have shown interest in buying the shares offered for sale by the government, but the increase in the shares offered for sale has become a reality.

In addition to the sale of shares of Ethio Telecom, it is recalled that a tender was issued to identify the company that will get the license to become the third telecom service provider in the country.

In 2013, a consortium of telecom service providers led by Kenya’s Safaricom won an 850 million dollar bid and started offering the service in the country from 2014.

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