IN BRIEF:

Mergers, Acquisitions and Financial Results

- Mauritius Telecom has announced a Rs 6.3 billion turnover and a  Rc 1.9 billion profit after tax  for 2006, an increase of 19% compared to the previous year. Sarat Lallah, CEO of the company, explains that this good performance is due to Mauritius Telecom moving into providing integrated telephone services.

- The International Finance Corporation, IFC, the World Bank's private lending arm has endorsed the East African Submarine cable system (EASSy), as a feasible and viable development project that merits critical financial support. In an online interview, IFC's Senior Advisor on Global Information and Communication Technologies, Joseph Solan, said that IFC had accepted to co-fund EASSy cable project on the premise that the cable would operate on the "open access" model.

- MTN Rwanda will invest US$20million this year in its network in order to bring new services and products to the market.

- The Managing Director/CEO, Zenith Bank International Plc, Jim Ovia, has concluded a 100 per cent acquisition of one of the nation's private telecoms operator, Cellcom Communications Limited (Cellcom). Ovia's purchase of the company in a transaction estimated to exceed over N4 billion was routed through Cyberspace Nigeria Limited, an Internet service provider (ISP) also owned by the banker.

- Datatec has announced that its subsidiary, Westcon Africa Middle East (Westcon), has acquired a 51% interest in the Sparnoon-Dynatech Group, an established African ICT distributor.