British Bankers Hired to Help Privatise Gabon Telecomm

Panafrican News Agency, 11 August 2000

Libreville, Gabon—A British banking group, HSB/Credit Commercial de France (HSB/CCF), has been hired to assist in the privatisation of Gabon's telecommunications network, informed sources said Friday.

In a statement released in Libreville, the privatisation committee said technically, two groups—HSB/CCF and Rothschild and allies—were the most qualified to handle the undertaking.

On the basis of an evaluation of the two firms, the statement said, HSB/CCF edged Rothschild slightly, whereas on the financial front, the British banking group surpassed its rival.

The Gabonese government invited six commercial banks to submit proposals. Only HBS/CCF and Rothschild (France) responded to the request, the statement said.

In view of its performance, the HSB/CCF group has therefore been retained at the end of the evaluation of bids, it added.