By MOZTIMES
Maputo (MOZTIMES)—The government announced on Tuesday that it will sell 91% of the shares in Mozambique Airlines (LAM) to three companies predominantly owned by the state.
According to government spokesperson and Minister of State Administration Inocência Impissa, the companies authorised to purchase LAM shares are Hidroelectrica de Cahora Bassa (HCB), which operates the Cahora Bassa dam on the Zambezi River, the Mozambique Insurance Company (EMOSE), and Mozambique Railways (CFM).
The purpose of the sale is to ensure that LAM is managed according to international standards of excellence. Impissa stressed that the companies involved in the acquisition are recognised for their good management.
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