On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South Africa’s second national operator Neotel hopes to spend R230m taking over Transtel Telecoms' networking infrastructure. The in-principle deal is subject to the two parties reaching a full agreement and winning regulatory approval, which could take up to four more months.

- Morocco will held its first international IT off-shoring exhibition in Casablanca in May this year. Morroco is the preferred destination for French off-shoring services. There are more than 200 centres employing around 22,000 people in the country.

- The South Africa Companies and Intellectual Property Registration Office (Cipro) is planning to spend R157m over the next three years to upgrade its information technology system and to fund a decentralised organisational structure. The long-term goal was to have a totally electronic-based operation in which registrations and applications could be made online.

- Indian financial newspaper Economic Times reports that MTNL is planning to bid for the 26% stake in Telkom Kenya for which the Kenyan government recently invited bids. The successful bidder will be announced on 25 September.

- France Telecom Orange intends to increase its annual investments in Egypt to over $20 million dollars annually with the launch of a second business services center for R&D. The new business center, which will be located at the Smart Village, is part of Orange’s future plans to employ another 500 Egyptian engineers raising the total number to 1,500 by the end of 2007. It will provide technical support to the company’s clients’ worldwide as well as serving new markets in Africa and the Middle East.