![]() ![]() “The network vandalism will always affect us,” she said. Mtasa said last year the company lost at least $10 million due to network vandalism. “The advisor will be tasked with preparing all the detailed financial, technical and legal work required to prepare for partial privatisation.” “From now we will be working with the transactional adviser. “We have actually completed all the procurement procedures for that. “I cannot give specific dates as to when we will finish, but what I can tell you is that we have brought a transactional advisor on board but is yet to be cleared by our ministry. “We are in discussions with our parent (ICT) ministry and the Ministry of Finance and a lot may depend on how the privatisation progresses. “As you might be aware, we are earmarked for partial privatisation this year,” TelOne MD Chipo Mtasa told Standardbusiness last week. Some of the state-owned companies will be sold off completely, while others such as TelOne will dispose some equity for capital investment. ![]() TelOne is among a number of state-owned enterprises and parastatals that have been earmarked for reform as government moves to wean off the entities, which have become a drain on the fiscus. ![]() TelOne says it has appointed a consultant who will advise the company on the restructuring of its staggering $380 million debt as it seeks to clean its books and attract private capital. ![]()
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