MTNL seeks 51% stake in TelOne

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

MTNL is seeking 51% stake in Zimbabwe's state-owned landline operator, TelOne. The funds will be routed through its Mauritius arm, Mahanagar Telephone Mauritius Ltd (MTML). Saddled with sizeable debt, TelOne is scouting for a strong overseas partner to enter the mobile turf. This will be MTNL's second attempt to enter Africa - in 2006, the telco failed to bag a mobile licence in Kenya and a year later it lost out in its attempts to buy a controlling stake in Telkom Kenya.

IMTNL-Mauritius is working closely with the Information & Communication Technology Authority (ICTA) - the apex telecoms regulator in Mauritius - to hasten its Africa plans. Its Zimbabwe's venture is learnt to have the blessings of ICTA chairman Trilok Dwarka, who is also closely involved in telecom regulatory matters for the 19-member Common Market for Eastern & Southern Africa (COMESA) - the largest free trade block in Africa. Mauritius and Zimbabwe are COMESA members.


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