On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Egyptian mobile operator MobiNil has denied recent claims that it is late in paying the January instalment for its 3G licence, Reuters reports. MobiNil CEO Hassan Kabbani said of the matter: ‘The payment is ready and we can do it at any time,’ while also noting that the payment would be made once spectrum and other information relating to the concession had been received by the cellco. Earlier this week local news sources had claimed that the mobile operator had fallen behind with its EGP750 million (USD138 million) payment, which was due on 1 January.

- Vodacom's minority partner in the Democratic Republic of Congo on Friday, 8 January 2010, stepped up pressure on the group to recover fees of US$180m and said it was even prepared to have Vodacom Congo sold to another operator if attempts to find a solution failed. The latest salvo by Congolese Wireless Networks (CWN) chairman Alieu Conteh raises the prospect of another image bruising battle for Vodacom nearly six years after it burnt its fingers trying to enter the lucrative Nigerian market.

- MTN has confirmed that the Head office of the West and Central Africa region is to be located in Ghana. The West and Central Africa (WECA) office comprises of 9 operating units including Nigeria, Benin, Cote D'Ivoire Liberia, Cameroon, Guinea Bissau, Guinea, Congo Brazzaville and Ghana.