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Technology Stocks : Africa - The Wireless Frontier
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To: waitwatchwander who wrote (163)3/14/2012 1:29:00 PM
From: elmatador  Read Replies (1) of 180
 
Has MNT done well with their expansion out of South Africa?

They had. Mistake they did was not to buy Cell com and had to set for Investcom.

Celtel was offered for about 2.4 biilon. They refused. MTC bought it and they had to buy Investcom for 5.5Billion.

MTN Plays Safe on Celtel Deal



JOHANNESBURG - Africa's biggest cell phone operator, said that it had not yet made a decision on how it will react to smaller rival Celtel's sale to Kuwait's MTC on Monday A source close to MTN said last week that MTN planned to sue Celtel for around $700 million on damages for ditching what it alleges was an agreed $2.7 billion takeover. "MTN shareholders are advised that MTN has not finally decided on any course of action regarding the dealings between MTN and Celtel and (Celtel Chairman) Dr. (Mohammed) Ibrahim," MTN said in a statement to the Johannesburg bourse on Monday. The source had said last week that MTN, Africa's biggest mobile operator by sales, would seek damages and in the best case scenario -- albeit a fairly unlikely one -- it hoped to reverse the $3.3-billion MTC deal so it could take over Netherlands - based Celtel itself. Analysts say Celtel, which operates in 13 sub-Saharan countries, would make a good complementary buy for MTN and ensure it did not fall prey to foreign players attracted by burgeoning growth in the continent.

MTN to acquire Investcom for USD5.5 billion; Investcom to pull out of Millicom bid
telegeography.com
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