IN BRIEF:

Mergers, Acquisitions and Financial Results

- Egypt's Orascom Telecom is likely to sell its Iraqi subsidiary, Iraqna, following its failure to secure one of three 15 year mobile licences being offered last week by the war-torn country's government, reported Reuters. Orascom felt the asking price of more than $1.2bn and the requirement to give the government 18% of revenue were unattractive. Orascom has invested around $300m in Iraqna and the firm has generated 11% of its revenue.

- After a listing on AltX just two weeks ago, the Huge Group Ltd has announced that it will merge its operating subsidiaries TelePassport (Pty) Ltd and newly acquired Centracell (Pty) Ltd. According to CEO, Anton Potgieter “This will create a new mega-managed telecoms player in the regional market”.

- In the first quarter of 2007, Tunisia has attracted 12 new call centres including Research, HP call centres and Nova System International. So far 102 call centres have relocated their activities in Tunisia which targets 130 centres by the end of this year.