In the wake of a proposed takeover by Orange France, the Management of Cellcom Telecommunications Inc. has assured that all founders and employees will remain involved in the business to ensure a smooth integration, support performance and continue long-standing relations with the Government of Liberia.
Orange France, through its subsidiary Orange Cote d’ivoire, seeks 100 percent acquisition of Cellcom Telecommunications Incorporated in Liberia. The regulatory body – Liberia Telecommunications Authority or LTA, is currently reviewing the proposed takeover.
According to the LTA, Cellcom had set the intended takeover date for today, Monday, February 1. But since Section 3.8 of Cellcom’s current License requires thirty (30) days prior notice, the earliest the transaction may take effect would be February 9, 2016.
“Ultimately, pursuant to Section 3.7 of the License, the LTA’s written approval will be required, for the assignment or transfer of the License”, a press release issued by the Liberia Telecommunications Authority reads.
It says upon LTA’s request, Cellcom has submitted information regarding the proposed trabsction, and addition information has been requested to gauge the over impact and implications on the Government and people of Liberia.
“The LTA believes the proposed transaction could be good for the sector; however, a careful review of the takeover will also include due diligence input from other government authorities. Cellcom will be notified in writing of the LTA’s decision, which will not be unreasonably withheld nor delayed”, the release concluded.