MERGERS, ACQUISITIONS AND FINANCIAL RESULTS
On The Money - In Brief
- The Zambia Development Agency (ZDA) has said the selection of an equity partner for Zamtel will be through an open tender process and both local and foreign companies are free to participate. The Government intends to maintain 25 per cent shares in the company to provide an opportunity to control the company for Zambians. The equity partner which is supposed to be brought on board by January next year would be expected to inject US$200 million needed to re-capitalise the company.
- MTN may be trying to realign market expectations around its possible tie up with Indian operator Bharti Airtel. Speaking at the company's interim results presentation this week, CEO Phuthuma Nhleko explained the initial proposed deal, published in a bourse communication earlier this year, may not be the shape of the deal, when or if an agreement is reached.
- South African Web design and custom software specialist, Syncrony will acquire full control over the business operations of FourWays IT. Web hosting company FourWays IT has sold its entire operation to the company, in a deal that will result in a substantial increase in market share for Syncrony within the SA corporate Web design market.