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The Angolan government reorganizes Angola Telecom and privatizes 55 state-owned enterprises

 Last Update: 2023-01-02
 Source: Internet
 Author: User

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The Angolan government has advanced its previously announced plan to privatize about 55 state-owned companies by completing the restructuring of Angolan Telecom (AT), with a cumulative loss of $173 million
, according to the Angop news agency.

The government plans to sell a 45% stake in the telecommunications company in 2021, when submarine cable operator Angola Cable and shares in MSTelecom, Net One, Unitel, Angolan Cabo TV and Multitel will also be sold to private investors
.

According to reports, Angola Telecom owns 51% of Angolan Cable Company, MSTelecom owns 31% and Unitel owns 9%.

Angola Cable currently operates two intercontinental submarine cables, the 6,165-kilometer South Atlantic Cable System (SACS), connecting Brazil and Angola (RFS certified in September 2018), and the 10,556-kilometer Monet submarine cable system between the United States and Brazil (commissioned in December 2017).

Angola Telecom

According to reports, Angola Telecom owns 51% of Angolan Cable Company, MSTelecom owns 31% and Unitel owns 9%.

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