On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Vodacom, one of the leading mobile telephone groups in Africa, made a profit of USD278 million last year to justify its continental market leadership. The money was made in the five countries it operates in to serve over 96 percent of the total number of cell phone subscribers in these countries. They are South Africa, DR Congo, Lesotho, Mozambique and Tanzania, which have a combined subscriber base of about 10.32 million people.

- Telecom Egypt has been granted preliminary approval on a USD131 million loan from a group of local and international banks,led by Bank Misr, and including Commercial International Bank. The loan will be directed to finance TEs acquisition of 25.5% of VodaFone Egypt’s (VODE.CA) shares, which occurred earlier this year.