Visabeira buys 51% of telecoms operator CST
Visabeira Global announced on Wednesday that it would acquire 51% of the shares of telecoms operator Companhia Santomense de Telecomunicações (CST) from Africatel, a Dutch holding controlled by the Brazilian company Oi.
The remaining 49% shareholding will continue to be held by the State of São Tomé e Príncipe.
“The entry of Visabeira Global (a Portuguese sub-holding with companies in the areas of telecommunications, energy, technology and construction led by Nuno Miguel Rodrigues Terra Marques) in the capital of CST guarantees its involvement in the operation of a company that has a vast curriculum in the telecommunications area, that ranges from project construction, the installation and maintenance of fixed and mobile networks, including the latest generation”, states the company in a communiqué.
The main strategic axes of the deal are: to boost fixed and mobile internet services; modernise the 2G/3G network and invest in 4G to improve the service and offer territory-wide broadband; expand its fibre optic network to regional capitals and tourism establishments, and create a payment services operator among other plans.
Founded in 1990, CST launched with a fixed analogue network and later with fixed digital mobile networks (GSM) and mobile technology.
Today CST holds a 100% market share in fixed services and a 83% share in mobile services on the São Tomé e Príncipe archipelago.