Zimbabwe: Govt to Approach MTN, Telkom With Better Telone-Netone Takeover Deal

GOVERNMENT says it will follow up on South African telecoms giants Telkom and MTN's inquiry into the sale of NetOne by offering a joint package of the mobile network operator and its sister telephone and internet service provider, TelOne.

According to Finance Minister Mthuli Ncube, government will be merging the entities under a Special Purpose Vehicle (SPV) as it moves to partially privatise the two parastatals which are burdened by legacy debts and losses of more than $100 million.

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