MERGERS, ACQUISITIONS AND FINANCIAL RESULTS
On The Money - In Brief
- Telkom South Africa has escalated its bid for a 49 percent stake in Zimbabwe's state-owned TelOne, with sources indicating that the South African fixed line operator has held high-level discussions in Zimbabwe for a possible acquisition. Telkom's attempt comes eight years after government backtracked on the parastatal's privatisation in 2002, after initially short-listing four companies for the acquisition of a 30 percent stake in the firm.
- MTN Ghana invested US$448 million in infrastructure and new technology in 2009, Ms. Mawuena Adjo Dumor, Corporate Service Executive, told the GNA on Friday. Out of the amount, US$228 million went into infrastructure, comprising of cell sites, fibre optics and implementation of co-location agreements with others, and 220 million dollars was spent on new technology, including 3.5G, Mobile Money, Mobile Television and others. "We spent US$200 million on cell sites alone, US$25 million to lay 98 per cent of our initial fibre optics target last year and three million dollars to implement about 100 out of 150 co-location agreements with other operators," she said.