Africa-Press – Angola. Following the process of public appropriation of the shareholdings that the companies Vidatel and Geni held in UNITEL, SA, corresponding to 50 percent of its capital, in accordance with Presidential Decrees n.o 256/22 and 257/22, both of October 28 , the first meeting of the joint working group for the preparation and implementation of UNITEL’s reprivatization process, in a competitive market, took place last Friday at the headquarters of the Institute for the Management of Assets and Participations of the State (IGAPE).
The aforementioned group should initially prepare a proposal for a reprivatization strategy and schedule, which supports the competent Presidential Order authorizing the reprivatization and guides its implementation.
The composition of the working group will be of a strictly technical nature, comprising only staff from IGAPE and SNL, as shareholders, and from UNITEL.
We remind you that UNITEL, SA is the largest mobile telecommunications company in Angola, being of exceptional public interest for the state, given the strategic position of the sector, the aggregated technical knowledge, the modern technological profile and its reference in national employability .
Due to these facts, it is important to mention that all measures are being taken in order to safeguard the proper functioning of the aforementioned asset and guarantee the continuity and safeguard of the common good.
Nationalization
In October, the President of the Republic, João Lourenço, decreed the appropriation, via nationalization, of the stakes held by VIDATEL LIMITED and GENI SA in the share capital of UNITEL SA, corresponding to 25 percent each.
The actions appropriated through this diploma are considered transmitted to the State regardless of any formalities, free of any encumbrances or encumbrances, being enforceable against third parties after registration.
The document clarifies that the management of the now appropriated share is attributed to the State’s Institute for the Management of Assets (IGAPE), which represents the State in all inherent rights, under the terms of the law.
Market operations
Created in 2001, the company currently has more than 12 million customers, and operates in almost the entire extension of the national territory and occupies an 80 percent share of the market.
In September, UNITEL extended 3G, 4G and 5G services to 375 locations in the country, allowing the transmission of Voice and Data (browsing websites, downloading and using online applications more quickly).
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