On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South Africa’s Competitions Tribunal last week announced that it is had approved the Altech/NamITech merger, with immediate effect, subject to the remedies offered by Altech. The first remedy is for Altech to dispose of its existing card manufacturing business, Africard, which at present falls within Altech Card Solutions (ACS). This remedy excludes the business within Africard responsible for personalisation services, which will remain within ACS. An additional remedy requires Altech to relinquish its status from that of being an exclusive, to that of being a non-exclusive, distributor of

- Alkan Group has exercised its call option to purchase 12 million shares of Vodafone Egypt (VODE.CA) representing 5% of the companys 240 million outstanding shares, at a set price of LE22.76/share. The deal came within the context of Telecom Egypts recent agreement with Vodafone Egypt.