Orascom Telecom, MTN confirm acquisition talks

News Wireless Africa 28 APR 2010
Orascom Telecom, MTN confirm acquisition talks
Mobile operator Orascom Telecom confirmed that its parent firm Weather Investments is in talks with South Africa's MTN on a possible deal to take control of Orascom or its businesses. This follows reports that MTN is looking to buy some of Orascom's Africa operations. MTN released a similar statement in Johannesburg confirming the talks with Weather, which owns 51 percent of Orascom Telecom.

Categories:

Mobile

Companies:

MTN,  Orascom Telecom,  Weather Investments

Regions:

Africa

Related Articles

AFRICA 29 APR 2010

Orascom seeks meeting with Algeria PM over asset sale

Orascom Telecom is seeking a meeting with Algeria's prime minister after officials there said they would block any proposed sale of OT's subsidiary in the country, Djezzy. The operator said in a statement that chairman Naguib Sawiris has asked Egypt's foreign minister to arrange a meeting with the Algerian premier and the relevant ministers to clarify all the concerns of the Algerian government. Orascom confirmed on 28 April that its parent firm, Weather Investments, was in talks with MTN Group over the pos

AFRICA 28 APR 2010

Orascom Telecom, MTN in advanced talks – report

Sale talks between Orascom Telecom and MTN are advanced but Orascom is also talking to two others over its African assets, Reuters reported citing sources familiar with the deal. The sources said most of the terms of the deal with MTN are at a well-advanced stage and generally agreed upon by the two parties but the structure of a possible deal is still being discussed and that is why they are keeping open the other discussions. In addition to MTN, the source said Orascom was talking to a regional operator a

AFRICA 27 APR 2010

Orascom, MTN talking on Djezzy sale - Algeria govt

Orascom Telecom is in talks to sell its Algerian unit Djezzy to MTN Group and the Algerian government takes a positive view of the sale, Reuters reports citing a senior government source. Two other people familiar with the matter told Reuters the firms are discussing MTN's purchase of Djezzy plus Orascom's four sub-Saharan assets, grouped under the Telecel Globe brand. They said MTN is likely to end up paying around USD 8 billion for the assets. The official said they have been informed about the negotiatio

AFRICA 26 APR 2010

MTN confirms in talks over potential deal

Africa and Middle East mobile operator MTN Group confirmed it's in talks about a potential deal. In a statement, it advised shareholders that the company had entered into discussions the full impact of which may have a material effect on the price of the company's securities. MTN said the discussions may or may not lead to a transaction. Earlier on 23 April the Financial Times reported that MTN was in talks with Orascom Telecom about buying the Cairo-based company's African mobile businesses. The Times said

AFRICA 23 APR 2010

MTN in talks to buy Orascom operations - report

Middle East and Africa mobile operator MTN has approached banks for USD 5 billion to help fund the possible acquisition of at least four units from Orascom Telecom, reports Bloomberg citing three people familiar with plan. The acquisition may include Orascom's activities in Egypt, Algeria, Zimbabwe and Tunisia, and the total transaction might be worth as much as USD 10 billion, said two sources, who did not want to be identified because the talks were private. The fourth source familiar with the plan said t

Just In

03:49

MWC26 Shanghai attracts 37,300 attendees from 143 countries

26 JUN 15:52

Mycom wins multi-year contract with Tier 1 CSP in Europe

26 JUN 15:42

Spectrum launches new undled connectivity packages

26 JUN 15:35

YouTube adds new features to Shorts video experience

Commentary

23 JUN 09:56

ACM blocks Delta/Glaspoort deal - what can KPN do?

5 MEI 10:55

KPN: the art of making one-offs structural

4 MEI 14:25

Open Dutch Fiber outlook: time to restart roll-out?

20 APR 10:36

Netflix back to organic growth and doing just fine

Background

21 JUN 22:52

The week in telecom: sovereignty debate comes to VivaTech, Ericsson succession and Fox buys Roku

1 JUN 00:13

The week in telecom: EU telcos push sovereign services as governments question foreign tech investors

23 MEI 23:42

The week in telecom: Starlink ready to go public, Singapore telco M&A and Google courts AI subscribers at I/O

18 MEI 00:31

The week in telecom: US operators mount rural satellite challenge, Cisco cashes in on AI boom

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.