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CCT acquisition pushes France Telecom deeper into Africa

21 октября 2011

France Telecom-Orange has acquired mobile operator Congo Chine Télécom from ZTE and the government of the Democratic Republic of the Congo.

FTO has paid €7 million for ZTE’s 51 percent share and €5 million for the government’s 49 percent share.

It is also injecting €134 million of capital into CCT and is paying the government an additional €52 million for improved license terms, including a 10-year extension and increased spectrum.

"The acquisition of CCT is an important step in our policy of expansion outside Europe, and contributes to our stated aim of doubling our revenues in Africa and the Middle East by 2015,” said FTO chairman and CEO Stephane Richard.

The DRC is the fourth most populated African country but has a mobile penetration rate of only 17 percent, according to FTO. “It is a promising economy endowed with vast natural resources,” added Richard.

As part of the deal, China-based ZTE will continue to provide network equipment and services to CCT as its preferred supplier.


Источник: European Communications

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