The merger of the 3 companies of the Cabo Verde Telecom Group was postponed, which was scheduled for January 1, 2023, announced the Group's Management.
"Powerful and alien reasons” to the Group are at the origin of the postponement, indicates the Management, in an official note.
It should be noted that it is expected that CV Multimédia and CV Móvel will be incorporated into CVTelecom, a merger to take place in order to commercialize different telecommunications services in an integrated manner, such as voice, data and television.
"We are predicting that within six months we will have a single company with its businesses”, had informed the company, ensuring that this option will allow “gain operational efficiency” and will have “rpositive impact on consumer prices".
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The CVTelecom group has stakes valued at 1.028 million escudos (9,6 million euros) in several companies, namely CV Móvel (mobile telecommunications network, 100%), CV Multimédia (pay-TV and Internet, 100%) and Directel Cabo Verde (Yellow Pages, 40%).
The majority of the share capital of the CVTelecom group is held by the National Institute of Social Security (public institute that manages Cape Verdean pensions), at 57,9%, also counting on the state-owned Aeroportos e Segurança Aérea (20%), Sonangol Cape Verde (5%) and the State of Cape Verde (3,4%) among shareholders, as private nationals (13,7%).
The profits of the state-owned group Cabo Verde Telecom (CVTelecom) increased by 36,5% in 2021, to 284 million escudos (2,6 million euros), and for the third consecutive year sales grew again, despite the crisis caused by the covid -19.
