On The Money - In Brief

Mergers, Acquisitions and Financial Results

- China’s largest cellular operator, state owned China Mobile, is close to striking a deal which will see it take a stake in pan-African mobile group MTN, according to XFN-Asia which cites a report from Shanghai Securities News.

- The government of Uganda has signed the sale deal of its 80 percent shares in Rwandatel to Lap Green Networks. Lap Green will make part payment of $50m. Another $50m will be paid in two instalments of $25m within two years.

- Morocco's state-run Caisse de Dépôt et de Gestion (CDG) purchased on Friday 0.6% of the capital of Vivendi, and ceded to the French telecoms firm 2% of the capital of Moroccan telephony operator Maroc Telecom. The agreement, signed between the two institutions raises the participation of Vivendi in Maroc Telecom to 53% up from 51%.

- As global IT company Datatec reported a rise in gross profit for Q3 it also announced that its two African acquisitions have helped to broaden its distribution channels to serve eight countries, including the prime market of Nigeria. While much of Africa is still an IT desert, Datatec is gathering intelligence to determine how far and how fast to press home its first mover advantage in those countries. The company plans to set up set up a branch in Angola.

- Dimension Data has acquired Accelon, a communications services company operating in Nigeria and Ghana, for an undisclosed sum.