Etisalat Said to Consider Sale of Stake in Tanzanian Unit - Bloomberg

Etisalat Said to Consider Sale of Stake in Tanzanian Unit - Bloomberg:



"Emirates Telecommunications Corp. (ETISALAT), the United Arab Emirates’ largest phone company by market value, is exploring a sale of Tanzanian unit Zanzibar Telecom Ltd., people with knowledge of the situation said.



Deutsche Bank AG is working with Etisalat on the sale of its 65 percent stake in Zantel, said the people, who asked not to be identified because the talks are private. Dar es Salaam-based Zantel, Tanzania’s largest Internet provider, has attracted interest from Vodacom Group Ltd. (VOD) and may also draw Millicom International Cellular SA (MIC) as a suitor, the people said.



An acquisition of Zantel would give a buyer access to spectrum in Tanzania, helping it cope with growing demand for mobile data. About 57 percent of people in Tanzania had wireless access in 2012, compared with a rate of more than 71 percent in neighboring Kenya and 131 percent in South Africa, according to data compiled by Bloomberg."



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