Money – In Brief

Mergers, Acquisitions and Financial Results

France Telecom's Orange has denied media reports by a French website that it secured its mobile operating license in Tunisia by means of corruption. The website claimed that although Orange paid the US$180 million license fee, it did not go to the government as planned, but was invested in a company owned by a daughter of former President Zine El Abidine Ben Ali and her husband Marwan Mabrouk.

JSE-listed Allied Technologies (Altech) has entered into an empowerment deal, selling off a 25% stake, and one share, in three subsidiaries, for an undisclosed amount. The subsidiaries are Altech Alcom Matomo, Altech Alcom Radio Distributors and Altech Fleetcall. Together, the three companies provide a range of radio communication and fleet management services and solutions to clients in the Southern African region.