On The Money - In Brief

Mergers, Acquisitions and Financial Results

- The consolidated earnings from operations of Maroc Telecom stood at MAD 2.32Bn, USD 270Mn, in the end of the first quarter of 2006, i.e. 12.2% more in comparison to the same period of last year. Revenue increase comes from a growth  of 27.8% in the number of mobile consumers and plus 225% of ADSL subscribers compared to the same period of 2005.

- The Sotelma, Mali’s national incumbant has announced a loss of 4 billions CFA for  the year 2005. This negative result comes after a 28 billions CFA profit in 2004. Employees of the company said that this situation is partly due to a lack of initiatives and investments in the past year.

- Telkom Kenya would sell its two subsidiaries, the Gilgil Technical Institute (GTI) and the Kenya College of Communications Technology (KCCT), as part of its ongoing restructuring programme.

- South African electronics and engineering company Reunert will close the chapter on its underperforming Reutech group for defence businesses, saying last week that it would dispose of the operations. Reunert would invest heavily in expanding its non-defence businesses that were already growing on the back of rising government, business and consumer spending, it said after releasing record profits.