The management of the two partially privatized state-owned telecommunication companies  Gamtel and Gamcel, on Tuesday 5^th August issued a press statement denying newspaper reports that there has been a break with the Spectrum Investment Group. The controversial sales of half of share capitals of both companies took place about a year ago in August 2007 and government justified the move by claiming that Gamtel was on the brink of bankruptcy and that it needed the injection of new capital, technology and managerial style. Last week, however, newspaper reports suggested that the sale and a so-called contract have not been renewed. The Point Newspaper even reported the reinstatement of Mr. Omar Ndow, former Managing Director, though the paper’s Wednesday August 6^th edition states that the “appointment had been revoked.”

On Tuesday’s press release, the Gamtel management states that the newspaper report “is completely misleading” and that it is “business  as usual” as far as both Gamtel and Gamcel are concerned.