Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 19:13
Uncertainty over the future of the euro zone returned to push the rand down against the dollar.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - The MTN Group (MTN) has acquired a 100% stake in Libertis Telecom in the Republic of Congo for a consideration of US$102.5m (R650m), it was announced on Monday.
Libertis Telecom has 190 000 subscribers, or a market base of under 40%.
The country, whose other mobile operator is Kuwaiti-held Celtel, is home to 3.5 million people while its mobile penetration is estimated at 14%.
The Congolese deal increases MTN's footprint to eleven countries and comes just weeks after the South African company announced it had paid a €500m licence fee in Iran for a 49% stake in that Middle East country's second mobile operator.
MTN is also eyeing the Namibian and Tunisian cellular markets as well as the fixed-line market in Nigeria where it has close to eight million mobile subscribers.