Money News - In Brief

Mergers, Acquisitions and Financial Results

-  Swedish-based Ericsson says that telecoms operator MTN has extended its management services agreement for Ghana.

- Indian-owned mobile phone operator Essar Telecom Kenya, which operates under the ‘yu’ brand name, has called on market leader Safaricom to open up its mobile money transfer service M-PESA to other networks. yu manager Madhur Taneja said that the cellco would be willing to pay royalties to Safaricom, for the shared use of M-PESA, and blamed the underwhelming impact of mobile number portability (MNP) on the fact that Safaricom customers are unwilling to risk losing their access to the mobile banking solution, regardless of their network preferences.