H. E. Teodoro Nguema Obiang Mangue, Vice-President of the Republic responsible for National Defence and State Security, chaired a meeting on Friday with the Prime Minister, telecommunications officials, GECOMSA and the State’s legal representatives to review progress towards establishing TELGESA, the new company planned with the EGSA LOITA investment group.
The meeting examined outstanding matters needed to formalise the agreement, particularly the valuation of GECOMSA’s assets, which will determine the State’s stake in the future company.
The Vice-President instructed the telecommunications department to expedite the delivery of documentation to KPMG, which is responsible for valuing GECOMSA’s facilities, equipment and other assets, including its 84 telecommunications towers.
The valuation will provide an objective basis for assessing the company’s value and ensure that both parties have the necessary information before concluding the agreement.
H. E. Nguema Obiang Mangue also urged the officials involved to strengthen coordination, resolve outstanding issues and work towards signing the agreement before the end of October.
The planned cooperation with EGSA LOITA aims to modernise Equatorial Guinea’s telecommunications and improve telephone and internet services for the population.
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