Cairo – Mubasher: Global Telecom (GT) completed selling its subsidiary Telecel International to Zarnet in Zimbabwe at $40 million, said GT in a bourse statement on Wednesday.
Zarnet is a fully state-owned company through the Ministry of Information Communication Technology and provides Internet service and ICT solutions for companies, institutions, and other entities in Zimbabwe
Telecom Egypt fully owns Telecel International that holds a 60% stake in Telecel Zimbabwe Pvt. Ltd, the statement revealed.
The stock quote increased by 2.04% to EGP 6.01 by 10:52am Cairo time on Wednesday.
