Mobile phone company Vodafone Group plc is
buying a 70% stake in fixed-line and mobile operator Ghana Telecommunications Co. from the government for $900 million. Vodafone's revenue from emerging markets surged 45% to £9.35 billion ($18.53 billion) while sales in Europe increased 6.1% to £26.1 billion, reports Bloomberg.com, which also noted that Vodafone wants to increase its 50% stake in Vodacom Group Ltd., South Africa's biggest mobile-phone operator.
Last week South African mobile-phone company MTN Group Ltd. said it would
buy the local unit of Verizon Communications Inc. to expand its fixed-line and Internet activities. TheDeal.com says South Africa's two biggest telecommunications companies, one of which is MTN, are undergoing a consolidation as foreign investors look to gain a foothold in Africa. On June 20, CD made a list of deals, noting the
global telecom trend and reporting that Telenor SA is also looking for M&A opportunities in Africa. We'll keep an eye out for more of these transactions.
It's been a newsy period for Vodafone. Its U.S. affiliate Verizon Wireless recently agreed to
acquire Alltel Corp. for $28.1 billion in cash and assumed debt. In late May, CEO Arun Sarin
announced he would step down. -
Baz HiralalVodafone Buys 70% of Ghana Telecom for $900 MillionA telecom sector deal wrap-up
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