On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Lithalelanga Connections Holdings, a black-owned strategic investment enterprise, has acquired a 63% stake in Tecor Group, an IT solutions company with a R100 million annual turnover. Tecor, a previously white-owned company, specialises in LAN/WAN connectivity and does the bulk of its business in the public sector.

- Tiscali SA has reached an agreement to sell its cellular business to the Vodacom Service Provider Company. A statement issued last week says the cellular operations have been sold as a separate business unit and the deal is subject to Competition Commission approval.