KEMMCOM Media and Communications

Orange withdraws from deal to buy 45% stake in Ethiopia’s Ethio Telecom

By: Boluwatife Ayo-Odewale
Published On: 2 Weeks Ago

French telecom giant, Orange, has officially announced its withdrawal from the bid to acquire a substantial 45% stake in Ethiopia’s leading operator, Ethio Telecom.

This decision comes after the French telecom operator had initially expressed interest in 2021 to partake in the partial privatization of Ethio Telecom, a telecom giant boasting over 70 million subscribers and holding a historical monopoly in the Ethiopian market.