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Libya Planning to List Mobile Network on the Stock Exchange

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The Libyan government says that it plans to list one of its two state owned mobile networks on the stock market next year.

The government-owned Libyan Post, Telecommunication and Information Technology Co (LPTIC) owns the country's two mobile operators Al Madar and Libyana.

Libyana has a market share of around 70 percent, and is seen as the most likely candidate for listing on the Tripoli stock exchange around the second quarter of next year.

"This is a company we want to do an IPO for hopefully next year," Faisal Gergarb, LPTIC chairman told the Reuters news agency.

The government has already announced plans to issue a tender for a third mobile operator license to a foreign investor to shake up the market.

On the web: Reuters

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Tags: libyana  Libya