DAR ES SALAAM, Tanzania (PANA) - The Germany-based telecommunications conglomerate, Detecon, and MSI of the Netherlands Wednesday acquired 35 percent of the share capital of the state-owned Tanzania Telecommunications Company.
Detecon and MSI were among three companies which tendered bids for shares in the utility 26 May. Their bid included payment of 120 million dollars and installation of 800,000 lines across the country.
An evaluation team of the Presidential Parastatal Sector Reform Commission assessed the bids against a set criteria consisting of price, total number of new connections to be undertaken by 31 December 2003 and acceptance of the transaction document.
Vodacom of South Africa, together with World Tel, which bid for 66 million dollars and promised to roll out 850,000 lines, failed to make it.
Saskatel of Canada, which also failed to secure the bid, proposed 60.5 million dollars and 575,000 lines within the specified time.
International financial organisations will now buy off 14 percent of the newly privatised company, employees five percent, while 10 percent will be acquired by Tanzanian financial institutions.
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