Libya has announced plans to sell small stakes in the country’s two mobile networks – Al Madar and Libyana. The IPOs will be organized to raise some cash and to spur the activity on the local stock exchange. On the latter note, the government unveiled details of tax breaks to make trading on the stock exchange more appealing to investors.
Earlier this year, Etisalat said it had submitted a bid for Libya’s third mobile phone license.
According to Mobile World’s figures, Libyana is the dominant operator with 83% of the market, where as Al Madar holds the remaining 17%. The country has a population penetration level of 134%.
[Via: CellularNews]