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Thu 2 Oct 2008 04:00 AM

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MTN Group buys Côte d’Ivoire companies

South African telco expands its presence in Côte d’Ivoire with acquisition of Arobase Telecom S.A and Afnet.

South African telecom operator MTN Group has expanded its presence in the West African country of Côte d’Ivoire after acquiring Arobase Telecom S.A, the country’s second landline operator, and Afnet, an internet service provider.

MTN acquired 100% of both companies through its Côte d’Ivoire subsidiary, MTN Cote d’Ivoire.

Arobase Telecom recently signed a concession agreement with the State of Côte d’Ivoire allowing it to offer data services using fibre-optic, wireless local loop and CDMA technologies.

Afnet was launched in 1997 and is one of Côte d’Ivoire’s leading internet service providers. The company offers wireless broadband technology and data services mainly to the consumer market.

The acquisitions are in line with MTN’s strategy to provide integrated communications in all its markets and follow similar acquisitions in Nigeria, Cameroon, Cyprus and South Africa.

“These acquisitions reflect the progress we are making towards consolidating our business,” said Phuthuma Nhleko, CEO, MTN Group. “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.”

MTN Group now operates in 21 countries in Africa, Asia and the Middle East. The company is listed on the JSE Securities Exchange in South Africa.

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