Movicel is the smaller of the two Angolan mobile phone companies. Its official name is Movicel Telecomunicações S.A.. Movicel was originally created on July 1, 2003, as a subsidiary of the state-owned Angola Telecom. In 2010, 80% of the company's capital was sold to various private companies: Portmil - Investimentos e Telecomunicações, S.A., Modus Comunicar, S.A., Ipangue, S.A., Lambda Investment and Novatel Wireless. The remaining 20% remain in the hands of the state-owned companies Angola Telecom and ENCTA. The seat of the company is the capital city Luanda. Movicel sells its services via a network of shops; recharging cards for pre-paid contracts are also sold by individual street sellers.