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Vodacom explores Congo venture options

Dec 22 2010 14:04 Fin24 & I-Net Bridge

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Johannesburg - Vodacom International said on Wednesday it had agreed with Congolese Wireless Network (CWN) to appoint NM Rothschild & Sons to explore options for their Vodacom Congo business.

No other details were given.

Vodacom holds 51% of Vodacom Congo SPRL and CWN is the holder of the other 49%. Vodacom International is a wholly-owned subsidiary of Vodacom Group [JSE:VOD] .

The move caps a long-running dispute between the two.

Earlier this year, Vodacom and CWN went to arbitration in Brussels after they failed to resolve their argument over the future of Vodacom Congo.

They had disagreed on a $484m capital injection and the possible liquidation of the venture.

The quarrel cast a shadow over Vodacom's African expansion, while its rival MTN Group [JSE:MTN] has made great strides on the rest of the continent.

mtn group  |  vodacom
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