On The Money - In Brief
- Maroc Telecom, the largest mobile operator and only fixed-line operator in Morocco said first-quarter revenue rose 14%, helped by strong revenue growth at its Moroccan mobile division. Revenue for the quarter ended March 31 increased to MAD6.97 billion Moroccan dirhams from MAD6.11 billion a year earlier. The Moroccan operator reported operating profit rose 9.1% to MAD3.1 billion from MAD2.84 billion. Maroc Telecom, which also has operations in Mauritania, Burkina Faso, and Gabon, is 53%-owned by entertainment and telecom company Vivendi
- Vodafone is in talks with the Ghanaian government about acquiring a majority stake in the country's leading telecoms group as the UK group seeks to boost is presence in Africa. The news comes after Vodafone considered a bid for South Africa's MTN this weekend, but rejected the idea of a £19bn-plus takeover offer. Vodafone chief executive Arun Sarin now plans to focus Vodafone's investments on a country-by-country basis. Ghana could be next.