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Stock impact report

African Operator Telecel Snaps Up MTN Assets as Part of IPO Push [BNN Bloomberg (Canada)]

Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD) 
US:NASDAQ Investor Relations: vodafone.com/content/index/investors.html
Company Research Source: BNN Bloomberg
The Africa-focused telecommunications company is buying MTN's debt and equity in Guinea-Bissau and Guinea-Conakry, Chief Executive Officer Moh Damush said in an interview, without disclosing the size of the latest acquisitions. This follows the purchase of Vodafone Group Plc's operations in Ghana last year. “Dubai and London seem to be our preferred options for a listing,” Damush said. “We are also interested in further developments in the next years that would allow considering African bourses.” Africa is home to the youngest and fastest-growing population in the world, making it attractive. Still, telecoms companies in these markets have to be prepared for challenges including inadequate energy supply and catering to lower-income consumers. More Acquisitions Telecel is looking at two other prospects on the continent and the “next round of acquisitions will focus on financial services and tech companies that can add value to our investments,” Damush said. Other than financ Show less Read more
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