Tanzania to Enter Talks on Purchase of Stake in Tanzania Telecom

Tanzania plans to start talks with India’s largest mobile-phone operator Bharti Airtel Ltd. (BHARTI) about buying the company’s stake in Tanzania Telecommunications Co. Ltd., the East African nation’s presidency said today.

Bharti owns 35 percent of TTCL, as the company is known, through its domestic unit Airtel Tanzania Ltd., while the Tanzanian government has a 65 percent shareholding.

“We in Tanzania have now completed the process of evaluating the shares of TTCL and are ready for talks,” President Jakaya Kikwete said in the e-mailed statement. Bharti Chairman Sunil Mittal met Kikwete yesterday in the capital Dar es Salaam, according to the statement.

To contact the reporter on this story: David Malingha Doya in Dar es Salaam at dmalingha@bloomberg.net

To contact the editor responsible for this story: Bryson Hull at bhull5@bloomberg.net

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