Money News - In Brief

Mergers, Acquisitions and Financial Results

- India’s ICT businessmen will tour the African continent in pursuit of new African ICT investment opportunities from 12 to 22 September 2011. The ICT businessmen will be visiting Nigeria and Ghana as part of their global tour. The NASSCOM delegation said in a statement that the visit is part Global Trade Development Initiative to explore new geographies for its members.

- Nigerian telecommunications leaders have called on the federal government to investigate the Bureau of Public Enterprises (BPE) over the sale of the state-run telecom operator NITEL. President of the Association of Telecommunications Companies of Nigeria (ATCON) Titi Omo-Ettu says he hopes the government takes their demands seriously. He said that BPE officials had been valuing NITEL properties instead of looking at the license that would bring to Nigeria more financial stability.

- South Africa’s IT company Altec, has bought SetOne, a Germany-based supplier of digital video broadcasting (DVB)-based products and solutions, for an undisclosed amount. South Africa is in the middle of migrating to digital television using the European DVB-T2 standard. Digital broadcasting will be turned off in April with the aim of switching off analogue signal towards the end of 2013.