Zimbabwe's Telecel has denied reports that it has failed to make a payment to renew its mobile operating license, blaming the reports on a confusion about how the license is to be renewed.
The company confirmed that it is obliged to make a payment of US$137.5 million to renew its license for another 20 years. However, it also negotiated a deal to spread the payments over a number of years.
The company has made a down-payment of US$14 million, and says that it has bank records to show that the funds were received at the regulator.
The next payment is due this December.
Telecel has over 2.5 million subscribers.
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