16 October 2008
MTN has acquired two telecommunications companies, Arobase Telecom and Afnet, in Cote d’Ivoire, enabling the South African based company – the largest cellphone operator in Africa and the Middle East – to expand its footprint in West Africa.
“These acquisitions reflect the progress we are making towards consolidating our business,” MTN chief executive Phutuma Nhleko said in a statement earlier this month.
“We believe both Afnet and Arobase will add value to MTN and support our strategy to ensure that the group is well positioned to benefit from a rapidly converging technology market.”
The transaction is being carried out through MTN’s Ivorian subsidiary, MTN Cote d’Ivoire, which won the Best Mobile Operator of West Africa in 2007.
Arobase Telecom is the second landline operator in Cote d’Ivoire. Created in 2001, Arobase has a concession agreement with the State of Cote d’Ivoire, which allows it to offer data services using fibre-optic, wireless local loop and CDMA technologies.
Launched in 1997, Afnet is one of the leading internet service providers in Cote d’Ivoire, and offers wireless broadband technology and data services to the general public, and the company also benefits from a solid reputation in the corporate market.
“The acquisitions are in line with MTN’s stated strategy to provide integrated communications solutions in all its markets,” the statement read. “They follow similar acquisitions in Nigeria, Cameroon, Cyprus and South Africa.”
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