On The Money - In Brief

Mergers, Acquisitions and Financial Results

  - Two Consortium, one of two groups bidding to run South Africa’s second fixed-line telecom network, said on Wednesday it would tell regulators it could raise initial equity funding from 433 million rand ($58.63 million) in its final offer.

  - Mobile Systems International Cellular, one of the six mobile companies that have been short-listed for the third mobile phone licence, wants the Government to reduce the fee it is charging for the licence. Asanka Rodrigo, a manager with CDC Capital Partners, one of the key shareholders and investors at MSI, said the Sh4.1 billion (US$55 million) that Finance Minister David Mwiraria expects to raise from the third operator is "way above the growth prospects of the industry."