Zimbabwe: Brainworks in U.S $20 Million Deal for Telecel Stake

28 January 2015

Brainworks Capital Management is set to acquire a significant stake in Telecel Zimbabwe currently held by the Empowerment Corporation (EC) in a transaction which could end the protracted share wrangle in the indigenous investment vehicle.

Brainworks is said to have made an offer for the 40 percent stake or 80 million shares held by EC for $20 million cash.

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