Econet in talks, fuelling Liquid Telecom speculation - TechCentral

Econet in talks, fuelling Liquid Telecom speculation

Strive Masiyiwa

Econet Wireless Zimbabwe is in talks about restructuring the company, according to two people familiar with the matter.

The company, which has a market value of R47-billion, announced on Monday it’s in talks that may affect its share price, urging stockholder caution when trading its securities. It didn’t provide further details.

The talks are related to a reorganisation, the two people said, asking not to be identified because they aren’t authorised to discuss it publicly. One of the people said the restructuring may relate to plans for an initial public offering by Liquid Telecom, a unit of Econet that owns about 40 000km of cross-border fiber networks in Africa.

Liquid CEO Nic Rudnick said last year that an IPO was a possibility. Econet, founded by Zimbabwean phone tycoon Strive Masiyiwa, is also considering selling shares on the London Stock Exchange that could value the company at about $8-billion (R120-billion), people familiar with the matter said in November.  — Reported by Godfrey Marawanyika, (c) 2018 Bloomberg LP

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