On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Celtel International, a subsidiary of the Kuwait-based MTC, has completed acquisition of controlling 65 percent stake in Vmobile, one of Nigeria's leading mobile telecom operators, for $1.005 billion (Shs1.8trillion). The transaction was structured as the purchase of existing shares and a $250m (Shs460b) equity injection, which will immediately boost Vmobile's financial ability to continue and accelerate its aggressive roll out.

- Black-owned and managed SA IT group, Tsohle Technology Holdings, has formed a joint venture known as TATIS Africa with Geneva-based customs management specialist, TATIS SA, to resell and implement TATIS solutions in SA and the rest of the Africa. TATIS Africa has participated with SAP Africa in the Accenture consortium tendering for the SARS tax and customs modernisation project with an offering that combines technology from SAP and TATIS SA.