On The Money - In Brief

Mergers, Acquisitions and Financial Results

- AccessKenya Group, the holding company which owns AccessKenya, Kenya’s leading corporate ISP, and BLUE, one of Kenya’s largest Public Data Network Operators, has applied to the Capital Markets Authority and the Nairobi Stock Exchange to list on the Stock Exchange this year through an Initial Public Offer.

- CEO of South African firm Econet Wireless Group (EWG) Strive Masiyiwa has said that he is confident that his company will win a court ruling to reverse the May 2006 sale of 65% of Nigerian cellco V-Mobile to the pan-African Celtel group. Two separate hearings are currently before the Nigerian courts, which if ruled in Econet’s favour will result in the setting aside of the USD1.005 billion deal.

- Qtel in Qatar announced that it will acquire 51% of the share capital of Wataniya from Kuwait Projects Company Holding KSC (KIPCO) and other related parties as well as further and additional direct investments in its Algeria and Iraq operations for a total consideration of $3.7 billion.

- The government of Akwa Ibom, a small state in the south-east of Nigeria, has announced the investment of USD67.5 million for an undisclosed stake in the equity of Celtel Nigeria, the country’s third largest cellco by subscribers.

- Vodacom Group has announced that Intelec Holdings Limitada has taken up a shareholding in VM S.A.R.L., trading as Vodacom Mozambique.