Skip to content Skip to Search
Skip navigation

Etisalat may bid for stake in Ethiopian telco

e& Vodafone Reuters/Jumana El Heloueh
e& will continue to focus on supporting Mobily as its largest shareholder

Abu Dhabi-listed Etisalat, now branded as e&, is planning to bid for a 45 percent stake in Ethio, a state-controlled telecom operator in Ethiopia.

The UAE’s telecom company is talking to advisers, Bloomberg reported citing informed sources.

France’s Orange SA is also weighing the option to bid for a similar stake.

Talks are at an early stage, with the Ethiopian government not putting any timetable to complete the sale.

In addition, Ethiopia is exploring issuing a third telecom license to compete with existing players – Ethio and Safaricom.

Etisalat is also interested in potentially bidding for the new license, sources told Bloomberg. Companies are required to express their interest by September 15.

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

AGBI last month reported that the Abu Dhabi-listed telecom operator made a paper loss estimated at $2.1 billion on its stake in Vodafone due to a slump in the UK’s Vodafone Group’s share price since mid-2022.

The company holds a 14.61 percent stake in Vodafone.

Latest articles

Countryside, Farm, Field

Oman to build agricultural city to enhance food security

Oman will build an agricultural city as part of its food security initiative, a news report said. Saham Agricultural City will cover an area of 65 sq km, with 70 percent dedicated to agriculture and 30 percent to urban development, Oman Daily Observer reported. The city will use advanced technologies such as hydroponics, aeroponics, and […]

Aircraft, Airliner, Airplane

Qatar Airways to buy 49% of Rwanda’s flag carrier

Qatar Airways is expected to buy a 49 percent stake in Rwanda’s flag carrier RwandAir as early as July as part of the Gulf airline’s strategy to expand in the African continent, according to a media report. The Doha-based airline will boost Rwanda’s aviation sector and allow RwandAir to expand its operations and fleet, Financial Times […]

Airport, Adult, Female

PIF agrees to buy 15% stake in London’s Heathrow airport

Saudi Arabia’s Public Investment Fund (PIF) and Paris-headquartered private equity fund Ardian have agreed to buy Spanish infrastructure giant Ferrovial’s 37.6 percent stake in London’s Heathrow, the UK’s busiest airport. Under the agreement, PIF and Ardian will acquire 15 percent and 22.6 percent, respectively, of FGP Topco, the parent company of Heathrow Airport Holdings, for a total […]

Turkey foreign property sales

Foreigners turning back on Turkish real estate

Foreign buyers are increasingly shunning the Turkish property market, wary of high prices, the expensive cost of living and a less welcoming environment for overseas real estate investors. There were only 2,064 residential units sold to foreign buyers in May, 35 percent down on the same month last year, data issued by the state statistics […]