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 Tuesday, September 06, 2011

­The government of Guinea Bissau has said that it is laying the groundwork for the eventual privatisation of Guiné Telecom.

The Prime Minister Carlos Gomes Júnior made a statement on the plans during a session to launch the restructuring project of Guiné Telecom and its mobile subsidiary, Guinetel. Both are deemed to be technically bankrupt companies. The government has received US$15.6 million in funding from the African Development Bank (ADB) and the Ecobank to refinance the company.

"The two companies will be part of a single package to be negotiated with potential investors according to international rules and practices," said Carlos Gomes Júnior.

Source: Cellular News