MTN Group concludes acquisition of Telecel Zambia

Von Computing SA

South African company MTN Group has concluded the acquisition of Telecel Zambia, following approval from the regulatory and competition authorities in Zambia.

Says Phuthuma Nhleko, MTN Group CEO: "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. We look forward to commencing operations in Zambia, and are confident that we will be able to contribute effectively to the growth of the mobile industry there."

MTN also announced the appointment of Mike Blackburn as CEO for the Zambian operation. Blackburn was formerly chief financial officer at MTN Uganda.

Recently, the MTN Group also announced the acquisition of the 51 percent stake in Loteny Telecom, trading under the name Telecel Cote d"Ivoire, in the Republic of Cote d"Ivoire. Ron Allard, former CEO of MTN Cameroon, is the CEO of Telecel Cote d"Ivoire.

Combined with the recent acquisition of a 51 percent share in Telecel Cote d"Ivoire, the acquisition of Telecel Zambia increases the MTN Group"s operations to eight - including MTN SA, MTN Nigeria, MTN Cameroon, MTN Uganda, MTN Rwanda and MTN Swaziland. The latest acquisitions bring the MTN Group"s total subscriber base to more than 18 million.