UAE’s Emirates Telecommunications Group Co., known as e&, and France’s Orange SA are exploring bids for a 45% stake in Ethiopia’s state-controlled telecom operator, according to sources who spoke to Bloomberg News.

E& and Orange have been separately speaking with advisers to weigh offers for the holding in Ethio, Bloomberg News reported citing people with knowledge of the matter.  

Deliberations are at an early stage and the Ethiopian government hasn’t announced a timetable for the sale, they said.

The African country has been exploring selling a stake in Ethio, though an initial process was disrupted by a civil war. After a peace accord late last year, the government revived the process.

E& has also explored a potential investment in Vodafone Group Plc’s African business, Bloomberg News reported last year, while Orange said it plans to boost growth of its Africa business in its 2030 strategic plan.

Ethiopia is also exploring offering a license for a third mobile operator in the country, competing with Ethio and Safaricom Ltd., according to the people.

E& is also interested in potentially bidding for that, the sources said. Companies are required to express their interest by Sept. 15, the sources said.

“We are looking closely at Ethio Telecom in particular to see under what conditions the Ethiopian authorities might allow a partner to take a stake in the operator,” a spokesperson for Orange said.

Ethiopia is Africa’s second-most populous country with more than 110 million people and is one of the largest remaining telecommunications markets that could offer a new license for mobile operators.

(Editing by Seban Scaria seban.scaria@lseg.com )