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Sovereign Wealth Funds Briefing - Categorized | Investment

Libya buys majority stake in Chad telecoms firm

Posted on 03 November 2010

From Reuters: Libyan state-owned firm LAP Green Network signed a deal to buy a majority stake in Chad’s Sotel telecoms firm for $90 million. The Libyan firm, which is owned by sovereign wealth fund the Libyan African Investment Portfolio, owns or controls telecoms operations in eight African countries.
The deal to buy a 60 percent stake in state-owned Sotel Tchad, was signed during a visit to Chad by Libyan leader Muammar Gaddafi, who is there to attend a conference on Africa’s dwindling water resources……………………………………….Full Article: Source

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