MTN calling on Arabian nights

South Africa’s largest mobile phone company, MTN Group Ltd., has unveiled its expansion plans to acquire its Dubai- based rival Investcom LLC for $5.53 billion in cash and shares. It is the fifth largest telecommunication takeover and the biggest cross boarder transaction by a South African Company in the year 2006. Over the past few years MTN has expanded radically, increasing its subscriber’s base to 20 million in more than 10 countries in Africa and Iran. The proposed offer by MTN group is subject to regulatory clearance.

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Source IIPM-Editorial,2006