Sujana Towers Ltd (STL), a part of Sujana Group of Companies, has acquired a 51 per cent stake Telesuprecon, an African Telecom Infrastructure company. The move enables STL to expand to markets in East and Central Africa.
Telesuprecon is a telecom infrastructure contracting firm providing services to telecom operators.
"The acquisition of 51 per cent shareholding was by way subscription to new equity shares issued by Telesuprecon. The existing promoters continue to be associated with the company in professional capacity and support its operations. The equity subscription by STL was made at par. As per the agreement with the other promoters, STL will support the company by providing the required working capital including guarantees," Sujana Group Director S Hanumantha Rao said.
Telesuprecon is in advanced stages of negotiations for securing telecom infrastructure contracts of aggregate value about $40 million in various East and Central African countries.
These orders are to be executed over the next 12-21 months. In addition, the company is in discussions with various telecom operators in these countries for further orders.
Telesuprecon has set up its operational headquarters in Nairobi from where the branch offices in other countries including the one for Kenya will be supported.
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