LPTIC Discusses Restructuring Plan for ORICEL

The Chairman of Libyan Post, Telecommunication and Information Technology Holding Company (LPTIC), Dr. Faisel Gergab, has held a meeting with the Minister of Telecommunication and Information Technology of the Republic of Ivory Coast Mr. Koné Bruno at the headquarters of the ministry in the Ivorian capital Abidjan.

This meeting comes as part of a comprehensive strategic plan developed by LPTIC in order to improve and develop its subsidiary company ORICEL. The main goal of this meeting was to discuss the current operational and regulatory challanges facing the company and provide a comprehensive action plan to the Government of the Ivory Coast aimed at restructuring the company and improve its competitive position in the local market, in addition, to secure  the renewal of the license and obtaining new universal integrated telecom license to improve and provide new services.

Importantly, As part of the restructuring of the telecommunications investment in Africa last August, ownership of Lap Green was transfered from Libya Africa Investment Portfolio (LAIP) to Libyan Post, Telecommunication and Information Technology Holding Company (LPTIC), LPTIC’s strong home position will enhance the value of its new African based assets, develop growth opportunities and create synergies with its Libyan operations and other global infrastructure investments.

After the meeting, Dr Faisel Gergab said:

“The meeting with Mr. Koné Bruno was important and successful, all indications were positive. With the help of integrated global consulting firms, a strategic plan was presented and discussed thoroughly to restructure and improve Oricel’s position in the market by offering new and diverse services for the Ivorian market, this will enhance the competitiveness of the company in the domestic market and achieve investment returns”.

(Source: LPTIC)

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