The French operator group was one of the most highly tipped candidates to pick up the 45% stake in the Ethiopian telecoms incumbent that the state has been trying to sell for some time. But more than two years after it first confirmed its participation in the privatisation process, Orange is walking away.
“Orange confirms that it has decided to withdraw from the ongoing process regarding the sale of 45% of Ethio Telecom,” the telco said, in a statement. “After analysis, the Group believes that 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’s not giving a lot away with regard to the results of its analysis, but it’s pretty clear that Ethiopia – be it due to the conditions of the stake sale itself, or the broader market conditions – is not the telecoms land of plenty that it was once considered.
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