On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Libya will privatise its Madar phone network but foreign investors will get no stake in the firm, Libya's economic reform champion Saif al-Islam, a son of leader Qadhafi, said. "Madar company and the oil companies will be owned by Libyans and foreign investment will get no share in them," Saif al-Islam said in a speech in Tripoli..

- Delta Capital, the Private Equity arm of Dubai-based Delta Partners has announced the initial closing on February 28th, 2007 of its MENA Telecom Fund. Due to strong demand from investors from across the region, Delta Capital has been able to reach its target commitment of US$75 million earlier than expected. Indeed the fund has been increased to $100 million on the basis of strong demand.