On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Senegal’s national incumbent, Sonatel is prepared to hand out to its shareholders (Senegalese Government, France Telecoms and private investors) the total profit realised by the company in 2007. Subject to the approval of the Board, the total amount to be distributed is 89,7 billion CFA francs (US$202 million).

- Etissalat has set up strategic alliances with television and internet content providers in Egypt, the UAE and Saudi Arabia as a prelude to mergers and alliances. "The move is in line with the global trend towards mergers between telecommunications companies and media content providers," said Ahmed bin Ali, Vice-President of Corporate Communications. "The mobile phone is not only a means of communication but has become an important medium to surf Internet and watch TV."