November 7, 2019 / 11:44 AM / a month ago

Axian, ECP to acquire majority stake in Togo state telco -govt

JOHANNESBURG, Nov 7 (Reuters) - A consortium composed of private equity firms Axian Group and Emerging Capital Partners will acquire a 51% stake in Togo’s state telecommunications company, Togocom, the West African nation’s government said on Thursday.

The consortium - Agou Holding - plans to invest 245 million euros ($271 million) in the company over the next seven years to improve international connectivity and expand Togocom’s high-speed fibre and mobile networks. ($1 = 0.9020 euros) (Reporting by Joe Bavier Editing by Tim Cocks)

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