On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Market speculation has it that UK telecommunications giant BT is in discussion to acquire JSE-listed GijimaAst. ITWeb revealed that it has received a detailed tip that the local company was the subject of a £100 million takeover bid from an unnamed UK telco.

- Nigeria’s mobile operator, Visafone which received its Unified Access Service[UAS] licence as a telecom operator from the Nigerian Communications Commission (NCC) on August 1, 2007 has met with 13 Nigerian banks to raise $200 million to finance the company's roll out, capacity building and expansion. The mobile company tends to roll out fully early February 2008 in over 40 cities and 12 states including the FCT Abuja.