Viettel Global to invest $225.8 into Tanzania

Viettel Global Investment JSC (Viettel Global) has announced its board of directors’ resolution outlying plans to invest in a telecommunications company in Tanzania.

The investment will start with buying 65 percent of Epocha and Golden Ocean Tanzanie Ltd (Egotel) stakes. The price to buy this amount of stakes is $18 million.

Total investment for this project is $337.7 million (including about above $18 million). And Viettel Global’s contributed capital was $225.8 million. In addition to $18 million of buying stakes, Viettel Global will contribute more $61.7 million into Egotel after holding 65 percent of its stakes.

Viettel Global mobilizes $146.1 million for Egotel in the form of loans from shareholders in cash and/ or equipment.

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