On The Money - In Brief

Mergers, Acquisitions and Financial Results

- In the wake of Algerie Telecom group’s partnership agreement with the Finnish network security solutions provider Stonesoft Corporation to supply integrated security solutions and continuity of services applications, the CEO of the AT, Moussa Benhamadi has confirmed the process of opening the company’s capital has started. A merchant bank has already studied the file and the calendar of the operation has now been submitted to the government.

- The government of the People's Republic of China has confirmed assistance to Sierra Leone-owned telecommunication company, Sierratel, with the signing of an inter-governmental agreement that made available a concession loan (US$20million ) to support the rollout of a CDMA 2000 EVDO1X network by Sierratel. It doesn’t come as a surprise that Huawei Technologies has been chosen to provide the equipment and carry out the installation.

- Neither Siemens South Africa nor Siemens internationally have been able to clarify whether South Africa will be affected by the company's global job cuts. According to both Siemens South Africa spokesman Greg Gibbons and Siemens Germany spokesman Monica Bruecklmeier, it is too soon to break down the job losses in terms of countries other than Germany.