- State-owned company stopped investing in Ugandan provider
- North African nation’s 2011 uprising led to upheaval in assets
By Nizar Manek and Fred Ojambo, 12 April 2017
(Bloomberg) --
Libya, which has lost control of its stakes in nine telecommunications companies in sub-Saharan Africa since the 2011 overthrow of Muammar Qaddafi, is battling to save its last one.
State-owned Libyan Post Telecommunications & Information Technology Co. in February ceased all funding and investment in fixed-line, mobile and internet provider Uganda Telecom Ltd. The company has accused Uganda’s revenue authority of seizing funds in UTL’s bank account and said it had lost confidence in the government’s ability to implement a $48-million turnaround plan that LPTIC was willing to fund.
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https://www.bloomberg.com/news/articles/2017-04-11/libya-battles-to-keep-control-of-last-sub-saharan-telecoms-stake