The MTN Group has acquired a 100% stake in Libertis Telecom, which has 190 000 subscribers, or a market base of less than 40%, in the Congo for a consideration of $102,5-million (R650-million), it was announced on Monday.
The country, whose other mobile operator is Kuwaiti-held Celtel, is home to 3,5-million people and its mobile penetration is estimated at 14%.
The Congolese deal increases MTN’s footprint to 11 countries and comes just weeks after the South African company announced it had paid a €500-million licence fee in Iran for a 49% stake in that Middle East’s country’s second mobile operator.
MTN is also eyeing the Namibian and Tunisian cellular markets as well as the fixed-line market in Nigeria, where it has close to eight million mobile subscribers. — I-Net Bridge