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.
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Telkom Group CEO Sipho Maseko has sold more than 112 000 shares in the telecommunications operator, bagging R10.8-million in the process.
Orange is considering a bid for a minority stake in Ethiopia’s state-owned phone monopoly as Africa’s second most populous country prepares to welcome foreign telecommunications investors for the first time.
MTN Group’s biggest shareholder is pushing for changes at Africa’s largest mobile phone company to avoid the regulatory, legal and political disputes that have cut its share price by more than half over the past four years.
American Tower Corp has agreed to buy Eaton Towers for R27.2-billion as one of the few international providers of telecommunications infrastructure expands in the fast-growing African market.
MTN Group has identified Ethiopia as a rare country where Africa’s largest wireless carrier will consider expanding beyond its existing footprint.
While its rivals Vodacom, MTN and Cell C struggle with flat growth in a tough economic environment, Telkom is killing it in the mobile business, showing astonishing growth in subscribers in the past year.
MTN Nigeria said it has “not been accused of any wrongdoing” after reports emerged at the weekend that it’s being investigated by the country’s Economic and Financial Crimes Commission.
MTN Nigeria says it’s being investigated by the country’s Economic and Financial Crimes Commission over a listing of shares on the stock exchange.
Vodacom, MTN and Cell C have all shown a decline in customer satisfaction scores in the past year, though MTN and Cell C lag their bigger rival, according to new research.