France’s Orange withdraws from process to buy stake in Ethio Telecom 



Reuters was first to report that French telecoms firm Orange (ORAN.PA) told Reuters on Monday that it had decided to withdraw from the process to purchase an up to 45% stake in Ethiopian operator Ethio Telecom. Orange submitted an expression of interest in 2021 to participate in the partial privatisation of Ethio Telecom, a former monopoly with more than 70 million subscribers.  

Market Impact

Ethiopia first launched a tendering process for a 40% stake in Ethio Telecom in June 2021 before announcing in March 2022 that it was postponing the sale because of economic conditions. It then revived the process in November 2022 and increased the stake on offer in February. 

Article Tags

Topics of Interest: Deals

Type: Reuters Best

Sectors: MediaTelecommunications

Regions: Africa

Countries: Kenya

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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