Friday, May 05, 2006

Telecommunications: MTN buys Dubai based telco for $5.3 billion

MTN, Africa's largest mobile phone operator in customer numbers, has agreed to buy Investcom, a Dubai-based telecoms firm for $5.53 billion.

The takeover is set to make MTN the second-largest emerging markets mobile phone operator.The deal will give MTN 28.1 million customers across 21 countries.