On The Money - In Brief
- Mauritius Telecom is to sell one per cent of its shares to its employees. This represents 1.9 million shares that will be sold at R16 each.
- Zimbabwe's Econet Wireless's share price has surged significantly since the mobile telecommunications company increased its stake in Kingdom Financial Holdings to 23 percent. Previously Econet had a 10 percent stake. The mobile operator's share price has been on a bull run in the past two weeks, firming from ZD13,300 to ZD20,550 last Friday. Analysts and market watchers have attributed the surge the price to the share acquisition that was finalised two weeks ago, which has resulted in punters opting for Econet ahead of other counters. Econet increased its stake in KFHL during last month's ZD100 billion rights offer floated by the financial group.