On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Zimbabwe’s Econet Wireless Group has decided to complete its purchase of its South African partner Altech’s 50% stake in its Botswana-based subsidiary Econet Wireless Global ahead of schedule. Econet has paid Altech USD87.5 million for its holding in a deal which was expected to be completed at the end of October. Econet’s CEO Strive Masiyiwa said the group had decided to make full payment in advance to enable the business to begin implementing its expansion programs and appoint a new board of directors. According to Masiyiwa, Econet Wireless Global will continue to operate as a Botswana-based wholly-owned subsidiary of the group.

- Bouygues SA unit Bouygues Telecom said it is a candidate to acquire the 35 pct of Tunisia's state run telecommunications company Tunisie Telecom that is up for privatisation. Vivendi Universal has already said it is a candidate and Telefonica SA has declined to comment on its intentions.