Telecel Globe completes African acquisitions

13 Jan 2009

Telecel Globe, the newly created subsidiary of Orascom Telecom, has completed the acquisition of Telecel Centrafrique and U-Com Burundi, having agreed the purchases in July last year for USD106 million. In May 2008 Orascom created Telecel Globe to look into small-sized acquisitions in Asia and Africa. The plan was to bid for new mobile licences that would become available in the region during the year and the operator planned to enter up to six African countries within twelve months. Telecel Globe has already assumed operational management of Telecel Zimbabwe, which was already owned by Orascom. According to one report, the operator also acquired a company in Namibia during 2008 and is currently exploring opportunities in Mali and Equatorial Guinea. By 30 September 2008 U-Com Burundi, Telecel Centrafrique and Telecel Zimbabwe claimed a total of 603,088 subscribers.

Burundi, Central African Republic, Global Telecom Holding (GTH, formerly OTH), Telecel-RCA (Centrafrique)