Vodacom ‘closer to DRC solution’
Vodacom is reported to be close to a resolution on a dispute that has held up its growth in DRC for two years.
Vodacom, a 51% shareholder in Vodacom DRC, has been embroiled in disputes with the 49% shareholder, Congolese Wireless Networks (CWN), since 2009.
Part of the dispute involves Vodacom plans to invest over USD400 million into the operation, a move CWN feared would dilute its investment.
Arbitration and a possible share sale have been among the solutions considered. However, new reports quote Vodacom’s head of international operations, Johan Dennelind, as saying constructive discussions were taking place, good progress was being made and the matter was closer to a solution.