The ownership battle which is surrounding Botswana’s largest cellco, Mascom Wireless, is set to go to mediation. In March this year South Africa-based MTN Group confirmed plans to sell its 53% interest in Mascom, saying it would offload its shares for USD300 million to minority investor Econet Wireless, which has a 7% interest in Mascom. This move was immediately challenged by Mascom’s other shareholder, the Botswana Public Officers’ Pension Fund (BPOPF), which holds a 40% interest. BPOPF insists that it should have been offered first right of refusal of the MTN shares. Local newspaper The Patriot writes that Francistown-based corporate lawyer Sefelana Thapelo has been appointed as the mediator in the dispute. Econet has said that if it does succeed in buying MTN’s stake it will sell off a portion of shares to the public.
Botswana , Econet Wireless Group, Mascom Wireless, MTN Group , Corporate/Financial, Mergers/Acquisitions, Wireless
21 Oct 2019
