Zain selects UBS to sell Saudi unit

On 12.07.10, In Mobile, By Editor

Kuwait’s Zain Group has appointed Switzerland-based financial service provider UBS to sell its Zain Saudi Arabia unit.

The Swiss company specializes in asset management and investment banking. The sale of the Saudi Arabian cellco, in which Zain holds a 25% stake, valued at US$756 million according to current prices, which has arisen following UAE-based Emirates Telecommunications Company’s (Etisalat’s) non-binding offer worth around US$12 billion for a 46% stake in Zain Group.

Etisalat already owns a controlling stake in Saudi’s second-placed mobile operator Mobily and its broadband unit Bayanat Al-Oula, so any transaction for Zain’s local assets would contravene local anti-monopoly regulations.

As per recent speculations, both Bahrain Telecommunications (Batelco) and South Africa’s MTN Group are in talks to buy the unit, although neither company has confirmed their involvement thus far.

Filed under:Mobile  Tagged with: • • • • • • • • • • • •
 
0 Comments
Leave A Response

Telekom will exit Nigeria CDMA handset business

On 11.22.10, In Mobile, By Editor

Africa’s largest fixed-line operator, Telekom has been looking to exit its Multi-Links mobile business, one of four mobile operators using the CDMA technology platform in a market overwhelmingly dominated by the rival GSM standard.

Telkom recently launched a mobile business in the South African market, where it faces stiff competition from MTN Group, and its former unit Vodacom.

According to Jeffrey Hedberg, Telkom’s acting chief executive, selling the mobile unit in Nigeria was a top priority. There is a clear need to stop the bleeding in the CDMA business, and on the fixed side the company is in discussions with other partners; again about increasing country scale and minimizing their exposure.

According to Telkom, it had received a number of expressions of interest for the Nigerian business, which was bought for $330 million three years ago and incurred a US$37, 42 million operating loss in the six months to end-September.

Filed under:Mobile  Tagged with: • • • • • • • •
 
0 Comments
Leave A Response

Etisalat Nigeria expects 12 million user in 2011

On 11.11.10, In Mobile, By Editor

Etisalat Nigeria is planning to spend up to $500 million on its network next year, as it looks to double its customer base to 12 million.

Etisalat is facing stiff competition in Africa’s most populous nation from South Africa’s MTN Group and India’s Bharti Airtel.

As per reports citing Steven Evans, chief executive of Etisalat Nigeria, he thinks that the company is still going to spend anything of the order of $400 to $500 million in terms of Capex, similar perhaps to 2010.

According to Steven Evans, the company has more than 6 million subscribers in Nigeria, and is aiming for 12 million by the end of 2011. But that will still put it at just a third of the size of MTN, which has 36.8 million users in Nigeria. Evans added that he expected the unit to break even in 2011 on an EBITDA basis.

Filed under:Mobile  Tagged with: • • • • • • • • •
 
0 Comments
Leave A Response

Orascom to get Tunisia permission for MTN deal

On 04.30.10, In Mobile, By Editor

www.WirelessFederation.com/news: Orascom Telecom Holding SAE can get the permission from Tunisia’s government to sell its Tunisian unit to South Africa’s MTN Group Ltd. According to the spokesperson of the company, Negotiations for the sale of the 50 percent stake are at an advanced stage.

MTN, Africa’s largest mobile phone company, is in talks with Orascom and the government about the acquisition of the assets.

The deal will create the fourth largest telecom operator in the world but the entire process to reach that goal does not seem to be a cup of tea as it is suffering hurdles from various quarters.

Filed under:Mobile  Tagged with: • • • • • • •
 
0 Comments
Leave A Response

Is MTN leaving SA?

On 02.20.10, In Mobile, By Editor

www.WirelessFederation.com/news: No confirmation or denial has been given by mobile operator MTN regarding its plans to abandon SA in favor of Dubai, a location closer to its higher revenue earners.

It has been speculated that company plans to move its group operations out of the country and eventually delist from the Johannesburg Securities Exchange. It may leave the local business as a subsidiary of the company, or even up for sale.

MTN is already registered in the Middle Eastern country which is said to be the head office for its Middle East and North African operations.

Several MTN groups operation unit has been quietly moving its operations without making any local splash about the plans.

Filed under:Mobile  Tagged with: • • • • •
 
0 Comments
Leave A Response

MTN declared 2006 African Mobile Operator

On 09.23.06, In Mobile, By Editor
Johannesburg (AND) One of Africa’s leading communications service providers, MTN Group Limited has been declared the African Mobile Operator of the Year (2006) at the inaugural CommsMEA Awards in Dubai.

The award recognises operators that have shown outstanding performance and results in key market segments and is yet another recognition of the Group’s leadership in telecommunications in emerging markets. A statement from MTN Group Corporate Affairs indicated that the award was conferred last week.

“MTN was recognised for its ability to develop and improve its mobile services while growing penetration rates and improving the customer experience. The award was received in Dubai by Chris Kilowan of the MTN’s office in Iran, on behalf of the MTN Group,” the statement read.

It was also indicated that the award follows the Financial Mail’s Top Companies survey in July 2006, where MTN won second place for delivering growth off a rising base.

“The MTN Group is the only company to appear in the FM’s Top 20 in all four years since the inception of the Top Companies survey,” the statement read.

Source- http://www.andnetwork.com

Technorati : ,
Ice Rocket : ,

Filed under:Mobile  Tagged with: • •
 
0 Comments
Leave A Response
Go To Top »