On the Money briefs

Mergers, Acquisitions and Financial Results

- Kenya has revised the deadline for submission of bids for a 40 per cent stake in Telkom, pushing back the expected entry of a strategic investor into the company.

The bids will now close on October 30, nearly two weeks after the mid October date that had earlier been set for the entry of the investor .

- Orascom Telecom Holding S.A.E. announced Wednesday that it has submitted an application to the Egyptian Capital Market Authority to bid for all the issued share capital of Raya Holding Technology and Telecommunications.

- Safaricom, one of Kenya's mobile company, is to list 25% of its shares on the Nairobi Stock Exchange by the end of the year Safaricom is owned 60% by Telkom Kenya and 40% by Vodafone Kenya.

- The Commission in charge of auditing Gabon Telecom's accounts for 2006 has revealed that the fixed line operator has lost 50 billion CFA francs (US$112 million) and its mobile arm, Libertis, has lost 5 billion CFA francs (US$ 10 million)