Ethiopia signed an agreement late on Thursday to outsource the management of its sole telecoms provider to France Telecom (FTE.PA: Quote) as it seeks to improve coverage and service.
The agreement marks the first foray by a foreign company into Ethiopia's state-owned telecoms industry, which remains one of Africa's few remaining government monopolies in the sector.
The management of Ethio Telecom will be taken over by the France Telecom for two years, in a deal worth 30 million euros ($39.57 million) for the French company, the state-owned monopoly said.
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