Alcatel broadens local ownership base

JOHANNESBURG (11/26/2003) - Alcatel SA announced Wednesday that an agreement has been signed to sell a 30 percent stake of the company to a new local partner, as part of the Black Economic Empowerment (BEE) program.

This black-owned partner is led by Peter Vundla of New Seasons, and includes a group of black investors, telecommunications professionals and an educational trust focusing on previously disadvantaged students in ICT.

This agreement exceeds the requirements proposed by SA's draft ICT Charter.

Join the newsletter!

Error: Please check your email address.

More about Alcatel-Lucent

Show Comments

Market Place

[]