Econet Wireless plans London IPO

16 Nov 2005

African mobile group Econet Wireless Group has announced plans to list on the London Stock Exchange and hopes to raise between USD400 million and USD500 million via an initial public offering (IPO). The money will be used to fund acquisitions and expansion of the company’s international businesses. Econet has stakes in operators in Botswana, Lesotho, Kenya, New Zealand and Zimbabwe, and is at the centre of a long-running fight for control of Nigerian cellco Vee Networks.

South Africa, United Kingdom