On The Money - In Brief

Mergers, Acquisitions and Financial Results

- The Commercial Court in Blantyre has ruled that Malawian cellco Global Advanced Integrated Networks (GAIN), which intends to operate under the G-Mobile banner, is allowed to engage Berlyl Capital and Telecoms to invest in its mobile network, reports Nation Online.

- Mobile phone firms in Kenya nearly doubled their media spend in the first half of this year compared to the same period last year as the two new entrants intensified the battle for market share, industry data indicates. A report by research firm Synovate shows that in the first six months Safaricom, Orange and Yu increased their media spend, while Zain reduced the expenditure. The total media spend by the four companies for the period under review stood at Sh3,377 million compared to 1,733 million during the same period last year.

- Malawian mobile operator Telekom Networks Malawi (TNM) has reported a 32% fall in profit for the six months ended 30 June 2009 to MWK448.6 million (USD3.25 million). The company attributed the decrease in net income to a shortage in foreign currency, which in turn hindered its investment plans.