Visabeira increases control of TV Cabo amid Tmcel privatization

Visabeira Moçambique has gained control of TV Cabo after acquiring a 30% stake from Tmcel. The Mozambique Competition Regulatory Authority (ARC) approved the transaction, which increases Visabeira’s total ownership in the telecommunications company from 50% to 80%. The regulator determined that the acquisition would not significantly impede effective competition in the national fixed electronic communications services market.

In a separate pending matter, Visabeira is also seeking to increase its stake in Televisa – Sociedade Técnica de Obras e Projectos from 50% to 80% by acquiring another 30% from Tmcel. This second transaction is currently under review by the ARC.

Concurrently, the Mozambican government is moving forward with the privatization of Tmcel, planning to sell 66% of the state-owned mobile operator's shares. This move follows a severe financial crisis characterized by massive accumulated debts and negative equity. The government aims to attract a strategic partner to address structural weaknesses and management issues that have compromised the company's operational continuity.