Orange to sell its stake in Orange Uganda

PARIS Mon May 19, 2014 2:51am EDT

PARIS May 19 (Reuters) - French telecom operator Orange said on Monday it will sell its majority stake in Orange Uganda to Africell as part of its optimization plan where Africa and the Middle-East remain a strategic priority.

The transaction, whose financial terms were not disclosed, is subject to approval from authorities, the statement said.

Orange Uganda, which was set up in 2008, is the third telecoms operator in Uganda and had 620,000 clients at the end of December 2013.

(Reporting by Maya Nikolaeva, Editing by Dominique Vidalon)