On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Egypt’s Orascom Telecom has posted a 45% increase in first quarter EBITDA as its group mobile subscriber base doubled year-on-year to more than 35 million. Revenues in the three months ended 31 March rose 38% to EGP5.63 billion (USD979 million), pushing EBITDA up to EGP2.52 billion and net income up 10% to EGP871 million. Orascom has stakes in mobile operators in Algeria, Pakistan, Egypt, Iraq, Tunisia, Bangladesh, Africa and the Republic of the Congo (Brazzaville). At the end of March its total subscriber base across all operations reached 35.38 million, up from 17.509 million a year earlier.

- ICT market analyst, BMI-TechKnowledge (BMI-T) has released the latest figures for the South African PC market Q1 2006, with the sector performing better than expected. The overall PC market experienced 31,6% quarter-on-quarter growth and a year-on-year increase of 34,8%. The desktop segment recorded a robust 31,4% quarter-on-quarter growth while the notebook sector continued to show quarter on quarter growth of 40,5%. As a result of falling prices the revenue growth was not as high as unit growth, and showed 18% quarter-on-quarter growth to end on R2,793bn.

- Potential buyer of Portugal Telecom, Sonaecom has bought 1% of its shares which entitles it under Portuguese law to look the company’s books. This could be the prelude to a second, more successful takeover bid. In turn, this might put Portugal Telecom’s Africa assets up for sale.