On The Money - In Brief

Mergers, Acquisitions and Financial Results

- In Nigeria, the Attorney-General of the Federation and Justice Minister Michael Aondoakaa (SAN) said that the Economic and Financial Crimes Commission (EFCC) has cleared the former Delta State governor, Chief James Ibori, over the sale of the state's shares to Vmobile around 2007.

- EOH, one of South Africa’s largest technology and outsourcing providers listed on the software and computer services sector of the JSE, today announced it has recorded a turnover of R1, 255 billion for the financial year ended 31 July 2009 and is now ranked as one of the top five IT service providers in Southern Africa. EOH reported revenue growth of 32,0%, an increase in profit before tax of 27,3% (R116,5m).

- Telkom South Africa Ltd. is in talks on co-operating with PCCW Ltd., a Hong Kong-based pay-TV and telecommunications company, Business Report said, citing a person familiar with the negotiations. The talks may result in an agreement similar to one that was reached earlier this year with AT&T Inc., the Johannesburg- based newspaper said, citing the person, who it didn’t identify. PCCW and Telkom declined to comment, the newspaper said. AT&T agreed in April to work together to expand Telkom’s geographical footprint by serving the Dallas-based customers in Africa using AT&T’s size and technology.