South Africa based Vodacom is facing a court battle in the Democratic Republic of Congo as it seeks to sell its majority 51 per cent stake in the company.
The minority shareholder, Congolese Wireless Network (CWN), which owns the other 49 per cent, is seeking a legal ruling to block the sale claiming that there are unpaid fees due.
Vodacom and CWN have had a fraught relationship ever since Vodacom invested in the company in May 2002. It has been reported recently that rival South African operator, MTN is interested in taking over the investment from Vodacom.
"We’ll send a letter to all the main shareholders and we’ll block the sale," a CWN spokesperson told Bloomberg in an interview in the DRC capital, Kinshasa
Vodacom and CWN went to arbitration last year following a dispute over investment funding for the mobile network.
Vodacom Congo counted 4.2 million subscribers at the end of March.
0 comments ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment