Ethiopia has put on hold the sale of the state-owned telecommunications operator to foreign investors, opting to prioritize domestic retail investors ahead of listing on the nation’s new securities exchange. The government initially favored sale of 45% of Ethio telecom to foreign investors, but canceled the bidding process in November after Orange SA announced its decision to withdraw from the race. Emirates Telecommunications Group Co. had also been said to consider a bid.

Source: Ethiopian News June 13, 2024 04:36 UTC