Money - In Brief

Mergers, Acquisitions and Financial Results

- MTN Nigeria, the local unit of South African telecoms company MTN Group, is set to sign a USD3 billion medium-term loan facility with a consortium of unnamed banks. Local newspaper the National Mirror reports that around USD1.5 billion of the total will be invested in the ongoing expansion and modernisation of MTN’s mobile network in Nigeria. The company is aiming to roll out around 5,000 2G base stations in 2013, while a further 4,000 3G base stations are planned for installation.