On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Egyptian shares fell on Wednesday last week when the telecom sector retreated amid profit-taking following recent strong gains and as anticipation of an Iraq war weighed on investor sentiment, traders said. Telecom stocks, which notched up big gains following the floatation of the Egyptian pound in late January, retreated further on profit-taking.

  - Uunet Kenya has assured its clients that the anticipated delisting of associate continental company from the Nairobi and the London Stock Exchanges will not affect its operations.

- SA’s ERP.Com is beginning to build up a base of financial backers, with Investec Asset Management taking a 10% stake and joining Treacle venture capital fund as a major shareholder.