Public tender to acquire 80% of Guinea Telecom’s capital kicks off in April 

The public tender for acquiring 80% of the capital of Guiné Telecom, Guinea-Bissau’s telecommunications company majority owned by the Guinea-Bissau state, will be launched in April, according to its chairman of the board of directors, António Mendes.

The initiative results from the second phase of a project being prepared with technical assistance from the International Finance Corporation, an institution of the World Bank.

The institution began with preparing a feasibility study, which “pointed out the different options” with the aim of re-launching Guiné Telecom and Guinétel, 95% owned by Guiné Telecom.

According to António Mendes, this launch phase began with a pre-qualification of investors.

They are collecting inputs and improving the dossier of the public tender, which will be available before the end of March and the beginning of April, with an expected conclusion in June 2023.

Mendes points to fiber optics as an advantage of the acquisition of Guinea Telecom, considering that there are about 2 million people in the country and that two multinationals dominate telecommunications.

“In the scope of the study, where the strategic options for the re-launch were defined, the change in the social object of Guinea-Telecom was defined. Previously it was a fixed telephone operator, now it is the manager of the State’s telecommunications infrastructure,” he said, quoted by Lusa.

António Mendes also said that the re-launching of Guiné Telecom would be maximized in terms of quality with the connection of the optical fiber cable because the State of Guiné-Bissau is a shareholder of the cable company, with 48 percent of the capital, and most of this capital will be transferred to Guiné Telecom.

With information from Forbes