On The Money - In Brief

Mergers, Acquisitions and Financial Results

- The Egyptian Cabinet has approved the offering of 20% of Telecom Egypt's shares to the public. The shares will be split into two tranches for individual investors and financial institutions. The offering will be executed at the Cairo and Alexandria Stock Exchanges and some of the shares will be issued as GDRs at the London Stock Exchange. The Cabinet, headed by Dr. Ahmed Nazif, declared that the public offering will be taking place soon.

- Nigerian alternative fixed line operator Starcomms has secured a USD23 million long term credit facility from China’s Export-Import Bank. The loan will be used to fund the continued nationwide rollout of Starcomms’ CDMA2000 1x-based FWA network.

- According to the Algérie Télécom's PDG Brahim Ouarets forty international operators have expressed interest in buying the company and the sale will be finalised by the end of February 2006.