Orange Withdraws from Ethio Telecom Sale Process

Orange Group opted to withdraw from a process to acquire a 45 per cent stake in Ethiopia’s state-owned operator Ethio Telecom, blaming existing market conditions which it claims do not match its strategy.

In a statement to Mobile World Live, the France-based operator group explained it would not move forward with a plan to attempt to acquire a 45 per cent stake in the Ethiopian business, ending interest which first began in 2021.

“After analysis, the group believes the conditions do not allow for the rapid deployment of our strategy and the completion of a project that would create value for the company,” it stated.

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