Vodacom Denies Botswana Investment Rumours
Published on: 5th Nov 2013
Note -- this news article is more than a year old.
South Africa based Vodacom has refuted reports that it is in talks to take a stake in Botswana based BeMobile.
There had been media reports late last week that the South African firm was either in a technology sharing agreement with BeMobile or had agreed to buy a stake in the firm.
It was claimed that the two companies would announce a deal by the end of this year, but Vodacom has now denied that any such talks are taking place.
The denial leaves BeMobile though in a difficult situation as the state-owned company is said to be struggling to compete with its more nimble private competitors and is said to be looking for a technology partner to assist it.
BeMobile's parent company, Botswana Telecommunications Corporation (BTC) is currently working on plans for a privatisation that would see a minority of its shares sold to the public.