Tanzania’s government has agreed to buy back Bharti Airtel?s local subsidiary?s 35 per cent stake in Tanzania Telecommunications Corporation (TTCL). The government of Tanzania wants to regain 100 per cent ownership in TTCL in a bid to recapitalise the financially distressed firm.
The Tanzanian government has been negotiating this deal with Bharti Airtel for the past five years. Until now, the entities failed to reach an agreement on the transaction price. According to reports, presently, legal procedures are being finalised for the government to buy back Airtel?s shares in TTCL and regain sole ownership of the company.
