[Breaking News] Government’s Telecel takeover completed!

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We have just received news that Vimplecom and Global Telecom, who owned a 60% stake in Telecel, have finally concluded the long protracted deal with Government which will see them take over their stake in the mobile network operator.

The communique signed off by Telecel CEO Angeline Vere to colleagues today states that management will continue to focus on ensuring that the organisation’s functions continue to run smoothly over the transition period.

The CEO also states that the new ownership creates new opportunities for the company by bringing in much-needed recapitalization necessary for the growth and development of the company.

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See communique below:

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2 Comments

  1. Stephen Mudere says:

    Great then we will share infrastructure attained by overcharging our citizens by econet and bum we make everything cheap.

  2. Macd Chip says:

    Buying a dead cow! The revenue from voice call is expected to continue declining where as OTT is expected to be over 12Billion by 2020.
    In third world countries like Zim, the main driver for telcos have always been voice call charges because there is lack of infrastructure to initiate growth in other areas.
    If the idea was to buy Telecel and do the sharing, making calls cheaper as claimed, then there is not much money in it, global trends are clear on that, Vimpelcom was quick to realise this and offloaded their shares whilst they are still worth something.

    If the answer is to build a LTE network, then why waste money when we have NetOne doing the same.
    This will also invalidate the claim by Mandiwanzira that money is being kept offshore by Econet so there is a need to have a single gateway for international gateway. It makes sense for the MPs in parliament who themselves doesnt know how to switch on a computer.

    But at the core of LTE is EPC, add IMS and the whole network is all but IP and voice packets can go either way. They will be just packets and the whole idea of international gateway for calls will come crushing. Internet have no boundaries

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