On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Hutchison Telecommunications International Ltd., a majority shareholder in Kasapa Telecommunication Company in Ghana, said it will invest $5 billion from the sale of its Indian unit in new and existing businesses and pay shareholders a special dividend of HK$6.75.

- The International Finance Corporation (IFC) has signed a Linkage Cooperation Agreement with MTN Nigeria Foundation for a joint project that will create opportunities for more than 1,000 rural based women in the country to earn income by reselling telephony services.

- Safaricom has issued a profit alert following a decision by the Government to regulate telecom firms' tariffs across networks. The firm's Chief Executive Officer, Michael Joseph said the decision to force mobile phone companies to slash their tariff is likely eat into the giant mobile operator's profit, a year after it was declared the most profitable company after reporting a Sh12.2 billion after tax profit.

- 45 foreign firms are reportedly interested in acquiring a stake in Algérie Télécom. The country’s Minister of Post, Information and Communications Technology, Boudjemaa Haichour, says the privatisation file has now been passed to the Government General Secretariat before being submitted to the cabinet. Created in 2001 as a joint stock company, Algérie Télécom remains Algeria's dominant fixed line operator. The government is offering around 50% of the firm to a strategic investor.