NAIROBI, Nov 27 (Reuters) - French telecoms firm Orange (ORAN.PA) told Reuters on Monday that it had decided to withdraw from the process to purchase an up to 45% stake in Ethiopian operator Ethio Telecom. Orange submitted an expression of interest in 2021 to participate in the partial privatisation of Ethio Telecom, a former monopoly with more than 70 million subscribers, Ethiopia's ambassador to Paris said at the time. "Orange confirms that it has decided to withdraw from the ongoing process regarding the sale of 45% of Ethio Telecom," the company said in a statement to Reuters. Ethio Telecom and Ethiopia's finance ministry, which is overseeing the bidding process, did not immediately respond to requests for comment. In May 2021, a consortium led by Kenya's top operator, Safaricom (SCOM.NR), won the first private licence to compete with Ethio Telecom.

Source: Ethiopian News November 28, 2023 04:52 UTC