Zimbabwe: Brainworks Dumps U.S $20 Million Telecel Takeover Deal

PRIVATE equity firm Brainworks Capital Management has withdrawn its US$20 million offer to acquire a 40 percent interest in the country's troubled second largest mobile phone operator, Telecel Zimbabwe.

The government has since threatened to shut down Telecel after it failed to pay for the renewal of its operating licence as shareholders also rowed over the Brainworks deal.

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