Cameroon launched the privatisation process for state-owned Cameroon Telecommunications (CAMTEL).

"The bid aims at ceding 51% of CAMTEL share capital to a strategic partner, who shall either be a telecommunications operator acting alone or a consortium headed by a telecommunications director and other investors," a government statement said.

Bids will be accepted in the long-delayed privatisation process until March 17. Cameroon's government is hoping to privatise state-owned companies like CAMTEL as part of an IMF-backed economic reform programme that aims to provide debt relief. However, previous attempts to sell CAMTEL, a process originally launched in 1999, fell apart when the government announced that potential purchasers were not offering enough.

The latest tender said the government was looking for "an excellent strategic partner with strong financial means and technical capacity". It said that bidders must show proof of having funds of at least US$ 100 million and demonstrate experience in developing fixed and mobile networks.

CAMTEL was created in 1998 and all shares are held by the state of Cameroon. By December 2005, there were 110,000 subscribers to its fixed network. The company is currently expanding its subscriber base using 155,000 CDMA lines.

Source: Reuters -  WDR/Intelecon Regulatory News