AWARENESS TIMES
Sierra Leone News & Information

State House | Press Union | Lumley Beach | AllAfrica | SL-Web

www.awarenesstimes.com

  Giving Knowledge to the People
welcome to sierra leone's premier news source
Last Updated: Jul 27th, 2012 - 17:15:06 
Front Page 
 
 NEWS
 Breaking News
 Local News
 Politics
 Photo News
 Video News
 
 EDITORIALS
 
 FROM OUR TEAM
 
 COMMENTS & OPINIONS
 Moiie's Column
 
 SPECIAL REPORTS
 Afsatu Kabba
 
 FEATURES
 
 ENTERTAINMENT
 
 PROFILES
 Role Models
 Awareness Lady
 Common Man
 
 THE ECONOMY
 
 NOTICES & DOCUMENTS
 Special Messages
 Legal Matters
 Obituaries
 
 PAID SUPPLEMENTS
 
 ADVERTISEMENTS
 
 SATIRE
Search


Published online by
Sylvia Blyden Dot Com

17 Garrison Street,
Freetown,
Sierra Leone.
Tel: +232-77-772001
Tel: +232-88-321000
Tel: +232-76-350077
Tel: +232-30-321001
Email:
editor@awarenesstimes.com
Website:
www.awarenesstimes.com

NEWS  

Celtel Sierra Leone buys Nigeria’s Vmobile
By Awareness Times
May 31, 2006, 20:35
Email this article
 Printer friendly page

Celtel International, a subsidiary of MTC, has concluded its acquisition of a controlling stake of 65% in Vmobile, one of Nigeria’s leading mobile telecommunications operators, at the cost of US$1.005. billion.

This transaction is the largest telecommunications deal in Nigeria and will expand Celtel’s presence to 15 countries on the African continent.

Vmobile offers extensive mobile coverage to more than 5 million customers throughout Nigeria. This transaction will give Vmobile access to Celtel’s operational expertise and all the associated benefits of being part of the MTCICeltel group. The transaction was structured as the purchase of existing shares and a US$ 250,000,000 equity injection which will immediately boost Vmobile’s financial ability to continue and accelerate its aggressive roll out.

Commenting on the transaction, Marten Pieters, CEO of Celtel International, said: "This agreement marks Celtel’s most important expansion in Africa to date. Nigeria is one of Africa’s biggest and fastest growing mobile telecommunications markets and we are delighted that we can bring our extensive expertise and resources to offer Nigerians the best possible quality of services. "

Tsega Gebreyes, Celtel’s Chief Strategy and Development Officer commented: "We are delighted that the negotiations with Vmobile’s shareholders have concluded this transaction and resulted in much needed investment in the company. Celtel looks forward to a strong partnership with Vmobile shareholders to build an even stronger business."

Mr Paul Usoro, Chairman of Vmobile’s investment committee, said: "We are delighted to have found a partner that shares both our vision and our passion for developing the mobile telephony market in Nigeria. This deal will help Vmobile to continue to expand its Nigerian footprint to ensure that the Company can offer Nigerians the highest quality infrastructure and world-class service that they deserve."

Celtel had announced that it had made a conditional offer for Vmobile on 16 April 2006. The conditional agreement was subject to a number of conditions. Econet Wireless Limited failed in the English Courts to halt completion but continues to challenge the transaction. Celtel has no reason to believe any court or arbitrator would find differently from the English Courts.

Celtel and MTC now provide mobile telecommunications services to more than 15 million customers in 15 countries in Africa.


© Copyright by Awareness Times Newspaper in Freetown, Sierra Leone.

Top of Page

Latest Headlines
NEWS
“Maada Bio is the Issue of Issues” ...Says Balogun Koroma
As APC prepares to bury Deputy Speaker of Parliament : Minister of Labour Dies
In Sierra Leone, Civil Society Monitoring Groups trained
EDITORIALS
Mr. Maada Bio Trusts Dr. Christiana Thorpe, Period!
Poor Communications in Sierra Leone
Telecommunications Visitors arrive to state of APC Dombolo @ NATCOM Rubbish!
FROM OUR TEAM
Sierra Leone: A Response to Dr. Thomas Yormah’s Penultimate Communication
Sama Banya wants Awareness Times to call Tom Nyuma a Buffoon
Too Smart to be Distracted - Sorry Guys but it is Squirrel Question Time
COMMENTS & OPINIONS
Hindolo Sumanguru Trye Dies in Sierra Leone
Sorie Fofana on my Name
A REJOINDER: A New Direction for Higher Education in Sierra Leone: Reform and Growth.
SPECIAL REPORTS
Violence & Disenfranchisement as 871 Voted out of 6,184 Registered in Sierra Leone's Bye Elections
Africa Confidential on Sierra Leone - Maada Bio Overthrew Strasser and Marketwomen Chased Bio from Power (16 Years Ago)
Libel against the Blydens: Philip Neville “Replies”
FEATURES
Mr. Maada Bio & the U.S. State Dept
Koroma’s June 12th Update on Education “More Girls In Schools Mean Better Families, Better Communities And A Better Nation”***
Will Sierra Leone Vice-President please speak publicly? - Sam-Sumana in a Fresh ‘Corruption’ Scandal from USA
ENTERTAINMENT
Watch Sierra Leone Television Live on TV-Africa for 5 Euros/monthly
In Sierra Leone, Emmerson Commends Tejan Kabbah
PROFILES
No articles available.
THE ECONOMY
No articles available.
NOTICES & DOCUMENTS
Dave Kloeber writes VP Samsumana
NOTIFICATION FOR PUBLIC DISCLOSURE ON THE ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA) STUDY OF THE SIERRA LEONE AGRICULTURE LTD’S SUSTAINABLE OIL PALM PROJECT IN THE BKM CHIEFDOM-PORT LOKO DISTRICT
Sierra Leone President Koroma’s Ramadan Message to Sierra Leone Muslims
PAID SUPPLEMENTS
Sierra Leone Judgment against MILLICENT LEWIS-OJUMU (nee HAMILTON-HAZELEY), Dr. PAUL CHIY & CLAS LEGAL LTD.
BBC Media Action seeks to strengthen production team in Sierra Leone (Job Opportunities)
Sierra Leonean Woman Dies at the Age of 105 Years
ADVERTISEMENTS
Office of the President's Chief of Staff seeks Reconciler for EITI Report
ADVERTISEMENT FOR BIDDING OF OFFSHORE PETROLEUM BLOCKS IN SIERRA LEONE
‘U wan buy...? U wan sell...? - Sierra Leone’s first Sales/Ads website launched
SATIRE
As Bio Launches Manifesto, Concerned Citizens ask: How Can a Squirrel like Julius Maada Bio Talk about Corruption in Sierra Leone?
Na Da We Passport! A Sierra Leone Political Satire
QUOTABLE QUOTE: - ERNEST BAI KOROMA TO THE TRC. (5th August 2003)

Copyright © 2005 - 2010, Awareness Times Sierra Leone; All Rights Reserved.
Hosted & Designed by West Africa Dot Net