Monday, January 19, 2009

Orascom Buys Namibia's Cell One

Telecel Globe, a subsidiary of Orascom Telecom, has acquired the Namibian mobile network operator Cell One for USD 59 million in cash, of which USD 32 million was already paid and the balance is due in January 2010.
Cell One operates a GSM 900/1800 network and has 198,000 active subscribers and over 20 percent market share. The acquisition will further enable Cell One to grow its customer base and deliver new services. Namibia had a mobile penetration of close to 50 percent at the end of 2008. 
These acquisitions are part of Telecel Globe's strategy to target licences and mobile operators in small and medium-sized developing countries that have high growth potential.

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