Friday, August 12, 2005

MTN Group acquires Telecel Zambia

Poised to exercise its might on the continent, MTN Group, has finalised the acquisition process of Telecel Zambia, just as it has appointed Mr. Mike Blackburn as the chief executive of the telco.

The conclusion came following the approval from the regulatory authorities in Zambia.
Group Chief executive, MTN Group, Mr. Phuthuma Nhleko announced this development, expressing the venture holds positive growth within the MTN family.

“We are pleased that our acquisition of Telecel Zambia has been concluded as we believe the operation holds very positive growth prospects for the MTN Group," he said.

Stressing that MTN looks forward to commencing operations in Zambia and is confident that the expertise and approach to doing business on the continent will contribute effectively to the growth of the mobile industry in Zambia.

He also declared the appointment of Mr. Blackburn, as Chief Executive Officer for the Zambian operation. He was formerly chief financial officer at MTN Uganda.

ITrealms recollects that few weeks ago MTN Group had announced the acquisition of the 51 per cent stake in Lottery Telecom, trading under the name Telecel Cote d’Ivoire, in the Republic of Cote d’Ivoire.

While the former chief executive officer of MTN Cameroon, Mr. Ron Allard, is the chief executive officer of Telecel Cote d’Ivoire.

Group Executive: Corporate Affairs, MTN Group, Dr Yvonne Muthien, in a press statement made available to ITrealms, said, additionally, the group has appointed Ms SB Mtshali as its company secretary with effective from 1 August 2005.

It is anticipated that all these culminate to the recent acquisition of a 51 per cent share in Telecel Cote d’Ivoire, and the acquisition of Telecel Zambia increases the MTN Group’s operations to eight on the continent.

MTN Group has presence South Africa, Nigeria, Cameroon, Uganda, Rwanda and Swaziland.

With the latest acquisitions MTN Group’s now has a total subscriber base above 18 million.

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