On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South Africa’s mobile operator MTN's proposed 23bn tie-up with India's Bharti Airtel has won the support of its largest shareholder, the Public Investment Corporation (PIC), although the PIC wants a better offer for its shares. The state-owned asset manager supported the deal in principle, said CEO Brian Molefe, but he believed there was "room for improvement" in the price being offered.

- The House of Representatives Committee on Information and Communications has said that it will back Globacom's bid to acquire Nigeria Telecommunications Limited (Nitel).

- France Telecom-owned Orange Business Services has decided to increase its South African visibility. While the company could not provide specifics on its strategic plan for its new profile, it did hint at the possibility of growth in the local market through acquisition or partnership. The company also hinted at the possibility of growing its competitive strategy locally, which could give other providers a run for their money.