On the Money - In Brief

Mergers, Acquisitions and Financial Results

- The main investor in Telkom Kenya, France Telecom, has denied reports that it plans to exit its Kenyan operation, as a result of registered losses. The French telco has re-affirmed its long-term strategic commitment to the Kenyan market.

- Etisalat last week announced the purchase of an additional 14% stake in Tanzanian fixed line, internet access and mobile operator Zanzibar Telecom (Zantel) for USD16 million, raising its equity holding in the African firm to 65%. Etisalat said the move to increase its influence in Africa is part of a wider plan to help lower its reliance on revenues generated in its home market. Etisalat had last increased its stake in Zantel by 17% in October 2007.