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Vodacom explores Congo venture options

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

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 222.52
Change -0.27
% Change 0.00
Cumulative volume 1014442
Market cap 411.64bn

Last Updated: 28/07/2014 at 03:42. Prices are delayed by 15 minutes. Source: McGregor BFA

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 127.10
Change 1.59
% Change 0.01
Cumulative volume 396615
Market cap 189.12bn

Last Updated: 28/07/2014 at 03:43. Prices are delayed by 15 minutes. Source: McGregor BFA

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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.

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