A month before South Africa is due to sell spectrum for 4G and 5G mobile networks, India raised R160-billion in an auction of airwaves.
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Telkom Kenya said on Wednesday it was no longer pursuing a proposed joint venture transaction with the Kenyan unit of India’s Bharti Airtel.
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Amazon.com is in early-stage talks to buy a stake worth at least $2-billion in Indian mobile operator Bharti Airtel, according to three sources with knowledge of the matter.
Helios Towers rose 1.8% in London after raising R5.4-billion in a long-delayed share sale that gives investors a foothold in Africa’s fast-growing wireless tower industry.
Nigeria vies with South Africa as the continent’s largest economy and is its most populous, but it’s a “sleeping giant” in the world of fintech.
Bharti Airtel’s Africa unit plunged in London trading after raising about $750-million in an initial public offering, making it among the worst debuts on European exchanges this year.
Bharti Airtel’s Kenyan unit has agreed to combine operations with Telkom Kenya, creating the second-largest telecommunications operator in the East African nation after Safaricom.
Nigeria is preparing rules that will allow wireless carriers to transfer cash, softening a previous policy that protected the turf of banks in Africa’s most populous country.
Safaricom’s market share dropped 1.6 percentage points to 65.4% in the three months to June as Bharti Airtel’s Kenyan unit and Telkom Kenya increased mobile phone customers at a faster pace.