On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Wireless holding group Millicom International Cellular has reported first quarter results for the three months ended 31 March 2008 which show a 42% increase in revenues to USD801 million compared to the same period of 2007 (and excluding discontinued operations). The biggest growth in subscribers came from Honduras, Ghana and Tanzania. ARPU was USD12.7 in the first quarter compared to USD13.9 in the previous three months.

- Zain has posted first quarter net profits of KD73.3m ($270.5m), up 10% on the same period last year. The telecoms operator, which is present in 22 countries in the Middle East and Africa region, also expanded its customer base by 54% year-on-year, to reach 45.7 million active users by the end of March.