On the Money – In Brief

Mergers, Acquisitions and Financial Results

* Nigerian CDMA operator Starcomms has reported a pre-tax loss of NGN2.94 billion (USD19.1 million) for the first half of 2010, news agency Reuters reports. The figure represents a fall from a loss of NGN3.68 billion posted in the same period a year earlier. Meanwhile, the fixed-wireless company’s revenue fell to NGN16.12 billion in the first six months of 2010 from turnover of NGN16.92 billion generated in 1H09. Starcomms has approximately 3.2 million CDMA customers in Nigeria, with a network covering 31 major cities, 22 States and covering 175 towns.