Econet Zimbabwe to Delist, Plans Infrastructure Unit Listing

Econet Wireless Zimbabwe Ltd. will voluntarily delist from the Zimbabwe Stock Exchange, citing a persistent valuation discount to regional peers.

“For the last several years, the company has traded at a significant discount to its peers across Africa which trade at 6 – 8x EV/EBITDA,” the telecommunications firm said in an emailed statement on Tuesday. “These peers have all already separated and realized value from their tower infrastructure.”