Skip to content Skip to Search
Skip navigation

Etisalat confirms interest in Ethiopian telco Ethio

By Andy Sambidge
Customers queue at an Etisalat kiosk at a Dubai mall. The telecoms giant is in talks with Czech firm PPF Group Reuters/Jumana El Heloueh
Customers queue at an Etisalat kiosk at a Dubai mall. The telecoms giant is in talks with Czech firm PPF Group
  • Abu Dhabi giant at ‘early stage’ of assessing bid for a stake
  • Ethio is state controlled and holds 1 of the country’s 2 telecoms licences

Telecoms giant Etisalat (rebranded as e&) confirmed on Tuesday that it is considering buying a stake in Ethio, a state-controlled operator in Ethiopia.

The Abu Dhabi-based company, which is now branded e&, said in a filing to the stock exchange that it was “at an early stage” of assessing a bid.

The statement from the company’s chief financial officer Karim Bennis did not give further details, but Bloomberg reported last week that e& is talking to advisers about a possible 45 percent stake.

France’s Orange is reportedly considering bidding for a similar stake.

The Ethiopian government is also exploring issuing a third telecoms licence to compete with existing players – Ethio and Safaricom.

Etisalat could be interested in bidding for this licence, sources told Bloomberg. 

Last week Etisalat confirmed that it is in talks with Czech investment firm PPF Group to explore opportunities in central and southeastern Europe.

AGBI revealed last month that Etisalat has made a paper loss estimated at $2.1 billion on its share in Vodafone, because of a slump in the UK group’s share price since mid-2022. The company holds a 14.61 percent stake in Vodafone.

Latest articles

Saudi Arabia launches e-karting racing tracks in 6 cities

Six cities in Saudi Arabia are set to get Hot Wheels e-karting racing tracks. The indoor e-karts will be a venture between Saudi Entertainment Ventures (Seven), part of Qiddiya Investment Company (QIC), and US toy maker Mattel. The Hot Wheels e-karting will be available in entertainment complexes such as Riyadh, Makkah, Taif, Al Madinah, Tabuk, and Jazan. In January, Seven […]

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Shoppers in Kuwait's Avenues Mall – the IMF says the country needs to encourage private sector employment

Kuwait needs to push reforms for economic growth, says IMF

Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […]

Thani Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, (UAE) speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, said 'Malaysia offers substantial opportunity for our exporters, industrialists and business leaders' UAE Malaysia Cepa

UAE and Malaysia sign Cepa to increase bilateral trade

The UAE and Malaysia have signed a free trade deal, bringing the number of deals the Gulf state has agreed with foreign governments to 12. The comprehensive economic partnership agreement (Cepa) will seek to eliminate or reduce tariffs, lower trade barriers, increase private sector collaboration and create new investment opportunities, the two countries said in a […]