![TMCNet: Econet Wireless buys VimpelCom's units in Burundi and Central African Republic for USD 65mn [IntelliNews - Weekly Reports]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_s8uW9IAtnJXpZcXdpQKOfFbagyi4PH_7ID-rtXYF63fC5129fVa6c40a2MhqlHx9OslGf7GTLkOQ=s0-d)
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Zimbabwean diversified telecommunications group Econet Wireless has agreed to pay USD 65mn for two telecom operators – in Burundi and the Central African Republic. Under the agreement, Econet, which runs telecom service providers in six sub-Saharan African countries, is buying 100% of Telecel Globe (TG) from Global Telecom Holding, a 51.9%-owned subsidiary of Amsterdam-based global telecommunications services provider VimpelCom, VimpelCom said in a statement.
TG wholly owns U-COM in Burundi, which offers services under the brand name leo, and Telecel CAR in the Central African Republic. The deal is subject to certain post-closing adjustments.
Econet Wireless already has operations in Burundi through its subsidiary Econet Wireless Burundi (EWB). Other licensed operators include Tempo Africell, Office National des Telecommunications (Onatel) and LACELL (SMART).
Econet Wireless currently has no operations in the Central African Republic. In addition to Telecel CAR, Orange, Moov, and NationLink Telecom provide wireless services in the country.
VimpelCom has already made one unsuccessful attempt to sell its TG assets. In Q1 2013, it signed a deal with Luxembourg-based emerging market telecom venture Niel Telecom, but the deal collapsed, reportedly due to a failure by the buyer to secure sufficient financing.
In addition to Burundi, Econet Wireless currently has operations or investments in Botswana, Kenya, Lesotho, Mauritius, New Zealand, Nigeria, South Africa, the UK and Zimbabwe. It is also the majority owner of Liquid Telecommunications Holdings, which owns and operates 17,000km of fibre optic network that carries traffic across Uganda, Kenya, Rwanda, Zambia, Zimbabwe, Botswana, the Democratic Republic of Congo (DRC), Lesotho and South Africa.
(c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info).
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