On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Vodafone is set to buy the seven per cent stake in Vodafone Egypt held by Vivendi Universal for USD48m, according to Mena Report. Vodafone Egypt was formerly known as Click GSM and launched in 1998 as Misrfone Telecommunications.

- Primedia is to sell its interest in UK-based fulfilment and telephony company Spark Response in a deal that will cut the group’s short-term debt by R22 million.

- NamITech Limited has concluded a deal with German technology company, Giesecke & Devrient (G&D), that will see Integrated Card Technology (ICT) become a wholly owned subsidiary of NamITech. In terms of the agreement, G&D will swap out its existing stake in ICT for a minority interest at the NamITech Holdings level. G&D, together with NamITech, was a founding shareholder in ICT, the largest local manufacturer of smart cards.