Mozambique’s third mobile phone operator to invest US$465 million

7 January 2011

Maputo, Mozambique, 7 Jan – Movitel, a consortium that was granted the third mobile telephony license in Mozambique, plans to invest US$465 million over the next five years, a representative of one of the shareholders said Thursday in Maputo.

The consortium, which was the winner in ºOctober 2010 of the international tender for a third mobile operator’s license in Mozambique, is majority-owned by Vietnamese company, Viettel Telecom, with 70 percent, by SPI Gestão e Investimentos, a stake-holding company linked to the governing political party in Mozambique, Frelimo, with 29 percent, and by a group of investors known as Invespark, with 1 percent.

Speaking on the sideline of the formal handing over of the license, the representative of Movitel at the ceremony, Safura Conceição, of SPI Gestão e Investimentos, said that the consortium would invest US$465 million over the next five years in order to operate in the country. (macauhub)