On The Money - In Brief

Mergers, Acquisitions and Financial Results

- An Egyptian court has pushed back the date for a decision on the shareholding dispute between Orascom Telecom and France Telecom (FT) related to mobile network operator Egyptian Company for Mobile Services (MobiNil). The court has set a date of 6 March for the next hearing in the matter, after lawyers for the two sides put forward their cases on the back of a ruling by the same court earlier this month that rejected a bid from FT for the shares in MobiNil it does not currently hold.

-MTN Nigeria has partnered Ericsson to fund empowering rural communities in Ondo state, through cutting edge telecommunications of the United Nations Development Programme (UNDP).The project tagged the Millennium Villages Project (MVP) aims at combating extreme poverty in African rural communities by offering them access to cutting-edge technologies, clean water, sanitation, education and other essential infrastructure.MTN said it is collaborating with Ericsson to provide the cluster of villages with a comprehensive, end-to-end communication solution, using ultra-modern 3.5G mobile communications and Internet technology.