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Libya ‘interested in buying Rwandatel’
09 January 2012
Libyan investment arm interested in buying assets of Rwandatel after operator is placed under insolvency process
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Rwanda
Rwandatel
Libya
LAP Green
LAP Green, the Libyan investment agency originally set up by the Gaddafi régime, is interested in buying back the assets of bankrupt Rwandan operator Rwandatel, in which is was formerly the major shareholder.
Regis Gatarayiha, the director general of the Rwanda Utilities Regulatory Agency, said several firms are interested in buying assets of Rwandatel. Libya’s LAP Green investment agency is one of the companies interested in buying the firm, he said/
Gatarayiha told Business Times that LAP Green “approached us with a view of participating in the liquidation process and it is possible they will participate like any other potential buyers. LAP Green is not the only potential buyer that is attracted to Rwandatel assets”. Gatarayiha said: “The highest bidder is ... expected to take over the assets.”
The operator was placed under insolvency process in 2011 and its assets will be sold to repay its debts. Its GSM licence was cancelled after it failed to adhere with its operating obligation. The liquidation procedure is likely to start this year. GTB
Further reading from Global Telecoms Business:
MTN buys increases Rwanda stake to 80% 07 Oct 2011
Rwandatel to be liquidated 27 Jul 2011
Rwandatel loses mobile licence 06 Apr 2011
Rwanda shelves fourth mobile licence 28 Feb 2011
LAP Green acquires Chad stake 02 Nov 2010
Millicom starts mobile service in Rwanda 20 Nov 2009