Mergers, Acquisitions and Financial Results

- Mobinil Egypt has reported its results for the second quarter ended 30 June 2007 which show sales rose 37% year-on-year to EGP2.07 billion (US$370 million). EBITDA climbed 28.3% to EGP979 million while net income jumped 48.7% to EGP516 million. At the end of June the company claimed 11.9 million subscribers, up 1.2 million in the three month period. Average minutes of use reached 129 minutes, up 12% on the same period of 2006, while blended ARPU stood at EGP59, down EGP10 on 2Q 2006.

- Celtel in Sierra Leone is one of five Celtel networks in Africa, including Democratic Republic of Congo, Madagascar, Malawi and Uganda that recently benefited from a US$320 million loan from the World Bank's IFC to Celtel’s owner MTC. According to Celtel’s MD in Sierra Leone, US$50 million will be invested to improve quality and further service and network development. On the other hand, Celtel Congo has been offered CFA230 billion (USD480 million) investments fund until 2012.