On The Money - In Brief
- Britain's BT is reportedly interested in a possible stake acquisition of the Algerian state-owned phone company Algerie Telecom. According to business sources in Algiers, a mission will take four senior executives of BT to Algiers in February, including the company's chief executive officer. The mission will be led by Lady Olga Maitland, a former member of the British parliament for Sutton and Cheam (1992-1997) and who currently chairs the Algerian-British Business Council.
- Ghana Telecom is now fully state-owned. The government has purchased the 30 per cent shares of Telecom Malaysia, former Managers of Ghana Telecom to make the company a wholly owned Government entity.
- Morrocan telecoms group Maroc Télécom announced that its fourth quarter revenues rose 17.5% on the back of growth in its mobile division. Télécom, a subsidiary of France’s Vivendi Universal, said 4Q turnover increased to MAD5.26 billion (USD591.6 million) from MAD4.48 billion (USD503.9 million) a year ago. The company attributed the increased earnings to the strong growth of mobile customers, up 38% to 8.8 million at the end of 2005, while its ADSL unit, with 242,000 lines installed at year-end, helped sustain the performance of the fixed line division.
- Celtel International will invest $100 million in 2006 into its network in DR Congo, Celtel Managing Director Marten Pieters said here following audience with Vice- President of the Republic, Jean-Pierre Bemba Gombo.