Globacom seeks Vodacom merger

29 Aug 2008

Local newspaper Business Day claims that Globacom owner Mike Adenuga has approached Telkom South Africa with a proposal to merge Telkom’s 50% stake in Vodacom with Globacom, creating a pan-African firm called ‘Vodalgo’ worth around USD18 billion. No financial details were disclosed. Such a bid could disrupt plans by Vodafone to increase its stake in Vodacom; the Newbury-based giant currently holds the other 50% Vodacom and is widely believed to be keen to gain full control.

Nigeria, South Africa, Globacom (Glo Nigeria), Telkom South Africa, Vodacom Group, Vodafone Group