On The Money - In Brief

Mergers, Acquisitions and Financial Results

- CommuniTel has rejected a public overture to join forces with empowerment consortium Nexus Connexion, which has been guaranteed a 19% stake in the second telephone network operator.

  - MIC Tanzania (Mobitel), has invested Tsh. 15 million in the expansion of its network that would take the number of subscribers to 300,000 by the end of 2003.

- In a multimillion rand deal involving UCS Group Limited, Datatec Limited, Massmart Holdings Limited, certain members of Affinity Logic management (the MBI team), and the Affinity staff share trust (the vendors), JSE-listed UCS Group, provider of software and associated implementation and support services to the retail sector and the investment holding company for a group of IT businesses, has acquired a 100% stake in Affinity Logic Holdings.