On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Sadok Rabeh, Tunisian Minister of Technology and Transport has announced that Tunisie Télécom will open its shares to the public and give first priority to its own customers.

- Anticipated strong 2003 results from MobilNil and the shortlisting of Orascom Telecom (OT) for a mobile phone licence in Iran pushed big-cap Egyptian stocks to a higher close last Sunday, traders said.

- According to the Algerian regulator the turnovers of Algérie Télécom and Orascom Télécom Algérie in 2003 represented 1.57 per cent of GDP (Produit intérieur brut) as against 1.01 per cent in the previous year. The latter employs only 1300 people as against the incumbent’s 19,000 employees.