The Libyan Africa Investment Portfolio (LAIP) has announced that the Ivorian government will not nationalize the ailing GreenN Cote d’Ivoire telecoms company.
LAIP, the owner of LAP GreenN, and the Ivorian government have reached an agreement to re-structure the company which has failed to pay licence fees, according to a report from Medafrica Times.
A source at LAIP said that instead of paying cash to the Ivorian government, LAIP offered to give the government shares in the company.
‘‘The new merged company will offer 51% to an international player to invest in the company so that it can compete. This international player can be LAP GreenN if we can make funds available before the end of the year. Otherwise we will seek other investors," he added.
(Source: Medafrica Times)