Friday, 12 September 2008

Sonatel sell off

Senegal based Sonatel has been collapsing since the sentencing on September 3 of former managing director of US-based ITXC on charges of bribery relating to seven western African telcos between 2001 and 2003. Of these, Sonatel is the listed company affected by the judgement's revelations of problems of governance and corruption.

The decline has dragged down the 38-company west African regional bourse, BRVM. This has sold off considerably in recent days, having broken through support.

No comments: