Angolan mobile phone company Movicel 80 percent privatized

30 July 2009

Luanda, Angola, 30 July – Mobile phone operator Movicel, S.A. has been 80 percent privatized in accordance with a decision by the Angolan government.

State-owned companies Angola Telecom and Correios Telégrafos de Angola continue to hold, respectively, 18 and 2 percent of Movicel’s capital stock.

The remaining 80 percent will be held by Porturil-Investiments with 40 percent, Modus Comicare- Comunicações e Imagem Lda with 19 percent, I pang – indústria de Papel e Derivados with 10 percent, Lambda Investement with six percent and Novatel, S.A., with five percent. (macauhub)