page http://cu1cali.com/curaduria/wp-content/plugins/featured-articles-lite/displays/panel_slider_implement.php geneva; font-size: small; line-height: 200%;”>Tmtfinance, http://cherrylanefarms.com/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-list-posts-endpoint.php a reputable media outlet reported Thursday that Orange has mandated Lazard, http://compspoultry.com.au/wp-includes/atomlib.php the world’s leading financial advisory and asset management firm to find a buyer for its mobile telecoms business in Uganda, hot on the heels of the sale of Warid Telecom’s local unit to Bharti Airtel.
Lazard advises on mergers, acquisitions, restructuring, capital structure and strategy.
“Orange is thought to be planning an exit from several markets in Africa where it does not already hold a number one or two spot. Aside from Uganda, which is thought to be the only geography where an official process is underway, this could also include Orange’s mobile businesses in Kenya, Democratic Republic of Congo and Niger, among others,” reported Tmtfinance.
Orange Group, the regulatory body of Orange worldwide explains its position in a statement below as seen by Chimpreports.
“The Orange Group will revise its position in the ownership structure of Orange Uganda during 2014.
Following a capital increase that took place over the course of 2013, the Orange Group currently holds over 95 percent of the company.
In order to enable Orange Uganda to continue to finance its operations and to make the necessary investments to ensure its continued development, Orange has engaged a process with a view to finding a new partner.
In a highly-competitive market, Orange Uganda is recognized by its customers for the performance of its network, the quality of its mobile data services and its innovative offers.
At a time when a consolidation phase has already begun in Uganda and the first benefits can already be felt across the market, Orange Uganda has all the necessary attributes to succeed.
To ensure our success at this crucial moment, the full commitment and mobilisation of all employees is necessary. Our customers must continue to benefit from the high-quality service that they expect and we must maintain our efforts to bring innovative new offers to the market.
This is particularly important as it will underline the intrinsic value of Orange Uganda, its performance and its assets in the eyes of potential partners.
The process involved in seeking out and setting-up a new partnership will take place in the coming months during 2014”
— Orange Group