China Mobile is reportedly seeking a junior partner to buy the assets of South African mobile operator MTN in Iran, Syria and Sudan, valued at about USD 2 billion, the South China Morning Post reported, citing unnamed informed sources.
The company has approached or plans to approach companies with a strong African and Middle Eastern presence such as France Telecom, Kuwait's Zain, Orascom of Egypt and Etisalat. The paper's sources said that China Mobile's attempt to buy a minority stake in the MTN units on its own was rebuffed.
China Mobile is looking overseas as its domestic urban markets become saturated and amid forecasts much of the future growth in the sector is destined to come from poorer rural areas.
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