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Article: Tanzania: Chinese Firm to Acquire 49 Percent Stake in Air Tanzania.
- Article from:
- TendersInfo
- Article date:
- August 21, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
The Tanzania government is quietly holding talks with the Chinese Development Bank with a view to selling its 49 per cent share in the troubled Air Tanzania Company Ltd to a private Chinese firm.
Investigations by The EastAfrican have found that the deal will see Hong Kong-based China Sonangol International Holdings Ltd buy shares in the airline and inject funds in order to buy brand-new aircraft.
Sonangol is also expected to fund the operations of the airline, which is currently struggling to regain its reputation and position in the regional and international market.
Reliable government sources told The EastAfrican ...