Angola Telecom is a telecommunications and Internet service provider of Angola. Angola Telecom is an empresa publica, i.e. wholly owned by the Angolan state. Subsidiaries of Angola Telecom include: Angola Telecom created the mobile phone provider Movicel as subsidiary, but holds since 2010 only a minority part of the shares of Movicel. In 2010 Angola Telecom began a program of restructuring led by a team of international consultants. In 2014, Bloomberg reported that the company was on track to produce its first net profit in over 8 years. However, the economic collapse fueled by the devaluation of crude oil has likely erased any gains achieved thus far.