Pan-African landine network operator, Liquid Telecom says that it has acquired most of the telecoms network assets belonging to Rwandatel, Rwanda's fixed line network operator for an undisclosed amount.
The deal includes Rwandatel's copper and fibre network and its customer base but excludes most of the land (which remains the property of Rwandatel).
Rwandatel, which is 80% owned by the Libyan investment group - LAP Green filed for bankruptcy in 2011. At the time, it was estimated to have debts of US$89 million against assets of US$50 million. Its mobile towers network was sold to Bharti Airtel last April for US$15.5 million.
Nic Rudnick, CEO of the Liquid Telecom Group, said: "Liquid Telecom is expanding rapidly and this is an important and strategic investment. Rwanda is an outstanding FDI destination and we are very confident in the country's economic future and growth prospects."
Liquid Telecom operates Africa's largest fibre network which runs from the north of Uganda to Cape Town.
This transaction comes four months after Liquid acquired the East African assets of The Altech Group ncluding a controlling interest in Kenya Data Networks.
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