Bharti continues acquisition trail
BUSINESS| Aug. 16, 2010, 5:39 p.m.
Following its recent USD10 billion purchase of Zain’ s 15 African operations, Bharti Airtel has announced that its Board of Directors has approved the acquisition of Telecom Seychelles.
The USD62 million sale gives Bharti ownership of the biggest telecoms operator in Seychelles, with 55% of the mobile market share, and extends its footprint to 19 countries. The company has been aggressively expanding and improving its investment in its quest to become a formidable force in the global telecoms space. It has committed a total of over USD1 billion to upgrade its new acquisitions in Africa, and is expected to invest another USD10 million in improving Telecoms Seychelles.
Manoj Kohli, CEO (International) &
Jt. MD, Bharti Airtel, said, “
We are delighted at the addition of Seychelles to our Africa portfolio. Telecom Seychelles has world-class operations that include state-of-the-art 3G services. These operations will benefit further by leveraging the efficiencies of scale of our African operations.”
Telecom Seychelles began operations in 1998 by launching mobile services. Today, it offers 3G mobile and integrated wireline services across the island nation under the Airtel brand and has over 57% share of the mobile market.
MORE BUSINESS NEWS
MTN Business launches Supplier Development Programme in MpumalangaMTN Business has reaffirmed its commitment to develop small and medium-sized enterprises (SMEs) within Nelspruit by extending its Supplier Development Programme (SDP) and Accelerator Programme (AP), the company’s enterprise development initiatives, to the Mpumalanga Province of South Africa. Read More
VMware appoints Senior Vice President and GM of EMEAVMware, a global leader in cloud infrastructure and business mobility, today announced the appointment of Jean-Pierre Brulard as Senior Vice President and General Manager of EMEA. Read More
InfoGraphics chief urges investment in tech start-upsThe Managing Director of InfoGraphics Nigeria, Chinenye Mba-Uzoukwu, has urged wealthy Nigerians to invest in tech start-ups. Read More
Convergence Partners acquires stake in Nigerian Fintech firmConvergence Partners has announced an investment of $20m for a strategic, minority stake in Venture Garden Nigeria. Read More
MTN Business augments its management team further with key strategic appointmentMTN Business SA has appointed an industry veteran, Mariana Kruger, as General Manager of Private Sector. Read More
SA Competition Tribunal approves Telkom-BCX mergerBusiness Connexion Group Limited has announced that the Competition Tribunal of South Africa has approved the proposed merger between Business Connexion Group Limited ("BCX") and Telkom SA SOC Limited ("Telkom") with the imposition of conditions. Read More
Kenyan SACCOS riding on innovation to attract customersAs confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative. Read More
BITC invites ICT investorsThe Botswana Investment and Trade Centre (BITC) is casting its net wide to appeal to players in the Information Technology sector to invest in the country. Read More
Yudala ‘an unstoppable movement’The opening of Yudala outlets, combining an online shopping platform with retail stores, has been described as a game-changer in Nigeria. Read More
Travelport, TTS sign reseller agreement for Africa, Middle East and Asia Pacific regionTravelport and TTS have signed a sales and distribution agreement for TTS products in the Africa, Middle East, and Asia Pacific regions. Read More
FEATURED STORYYoung innovators shine during pitch sessions
Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.
BEST READ NEWS
IN DEPTHHigh tech homes: Just press play
High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.