Zimbabwe shuts down mobile phone firm over black empowerment

[Wireless News]

http://l1.yimg.com/bt/api/res/1.2/o__JkgRqo9wDmIuSP_ovug--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/afp.com/80de232530a989ecd7f977deb42e68f7a6944cc3.jpg (http://news.yahoo.com/zimbabwe-shuts-down-mobile-phone-firm-over-black-144716631.html)Zimbabwe on Wednesday shut down the country's second largest mobile phone service provider, Telecel Zimbabwe, partly for breaching black empowerment laws, officials said. International telecom firm VimpelCom, based in the Netherlands, has a 60 percent stake in Telecel Zimbabwe, making it the major shareholder. Zimbabwe's indigenisation law compels foreign companies to cede majority shares to local partners. "The Telecel Zimbabwe licence has been cancelled... with effect from 28 April 2015," the Postal and Telecommunications Regulatory Authority (POTRAZ) said in a statement.



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