I usually consider most of the mail from these guys as spam, but I found this one interesting...
Mark.
---------- Forwarded Message ----------
Subject: MTN Group to Acquire Controlling Stakes in Cote
d'Ivoire and Zambia
Date: Wednesday 22 June 2005 13:02
From: [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
MTN Group to Acquire Controlling Stakes in Cote d'Ivoire
and Zambia
JOHANNESBURG, South Africa, June 22/PRNewswire/ --
The MTN Group is pleased to announce that it has
entered into agreements to acquire significant GSM
networks in Cote d'Ivoire and Zambia, in line with its
vision to be the leader in telecommunications in
developing markets and its commitment to growing
shareholder value.
The MTN Group has entered into an agreement to
acquire a 51% stake in Loteny Telecom, trading under
the name Telecel Cote d'Ivoire. Telecel Cote d'Ivoire
is one of two operators in Cote d'Ivoire. The operation
has in excess of 800,000 subscribers and an estimated
market share of 46%. The transaction is subject to
minor conditions, however, regulatory approval has been
obtained.
The MTN Group has also entered into an agreement to
acquire Telecel Zambia, which is one of three network
operators in Zambia. The acquisition of Telecel Zambia,
which currently has an estimated market share of 21%,
is subject to regulatory and competition approval from
the relevant authorities in Zambia.
Says Phuthuma Nhleko, MTN Group CEO: "We are very
pleased with these transactions, which are in line with
MTN's expansion strategy of consolidating our position
on the continent. We are confident that the two
companies hold very positive growth prospects for the
Group.
"Telecel Cote d'Ivoire and Telecel Zambia meet all
the conditions of our investment criteria and as
established operations, we are confident that they will
achieve growth and maintain market share, benefiting
significantly from MTN's strong brand and innovative
product and service offerings."
These acquisitions will further entrench the MTN
Group's footprint in West/Central Africa and Southern
Africa, where it already has operations in Nigeria and
Cameroon and South Africa and Swaziland respectively.
Successful conclusion of both agreements would increase
the MTN Group's operations to eight, including MTN
Rwanda and MTN Uganda and grow the total subscriber
base to over 16 million.
Cote d'Ivoire is one of the first African countries
to liberalise the telecommunications sector with the
privatisation of the state-owned Cote d'Ivoire Telecom
and the introduction of three competitors in the GSM
market. The third GSM operator, Comstar, was a minor
competitor which suspended operations in October 2003.
The country has recorded one of the highest growth
rates for GSM services in Africa over the last five
years and growth potential still remains high, given
the current mobile penetration rate of approximately
11%.
It is estimated that the current population of Cote
d'Ivoire (17.3 million) will grow by approximately 2.2%
per annum. The total mobile market at the end of 2004
was 1.8 million subscribers (based on 90 days access).
The penetration level is expected to grow to 12% in
2005 (2.2 million subscribers), 18% by 2010 and 20% in
2015.
Telecel Cote d'Ivoire performed relatively well in
2004, maintaining its market share through innovative
products and services. Telecel Cote d'Ivoire was the
first mobile operator in Cote d'Ivoire to introduce
pre-paid cards in 1998. The operation continues to
develop unique products, focusing on value-added
services.
Telecel Zambia launched its services in June 1997
operating a CDMA network until 1999 when it migrated to
GSM. It is currently the second largest network
operator.
The Zambian mobile market is currently estimated at
over 360,000 subscribers with a penetration rate of
approximately 3% based on a population of nearly 11
million. Growth in the market, fuelled mainly by the
recently increased competition amongst the mobile
operators, is expected and coverage is concentrated in
the urban areas. The regulator is seeking further
expansion for rural telephony and Telecel Zambia has
already responded, introducing 400 community payphone
lines.
Telecel Zambia's coverage spans from the Southern
Province covering the towns of Chirundu, Lusaka
Province through Central Province covering Kabwe and
Kapiri Mposho District and all the way to the
Copperbelt.
Says Yvonne Muthien, group executive, corporate
affairs, MTN Group: "Cote d'Ivoire is the commercial
hub of Francophone West Africa and is the home of the
regional stock exchange for eight Francophone
countries. The country boasts one of largest ports in
sub-Saharan Africa and an outstanding infrastructure
with a network of over 16,000km of paved roads. As
such, Cote d'Ivoire is an attractive investment
opportunity for the Group. The mobile sector has
experienced strong growth in Zambia and the prospects
for the Group are positive in that market as well."
Launched in 1994, MTN has established a reputation
for network excellence and quality products and
services. To date, the Group has invested R23.4 billion
in infrastructure across its GSM networks in South
Africa, Swaziland, Rwanda, Uganda, Cameroon and
Nigeria. The Group recently announced its annual
results, showing continued strong growth during the
2005 financial year.
Source: MTN Group Management Services
Portia Maurice, GM: Corporate Communications, Tel:
+27-(0)83-212-7843, Sarah Chapman, Kilimanjaro
Communication Management Consultants, Tel:
+27-(0)83-200-3020
-------------------------------------------------------
pgpCTkHGr79OX.pgp
Description: PGP signature
_______________________________________________ LUG mailing list [email protected] http://kym.net/mailman/listinfo/lug %LUG is generously hosted by INFOCOM http://www.infocom.co.ug/
