MTN/Orascom Talks Signal Potential Consolidation In African Telecoms

Trading of Trading of Orascom Telecom shares on the London Stock Exchange has been suspended pending an announcement form the Egypt-based company on the future of its African assets, reports the Financial Times. Orascom is in talks with MTN over the potential purchase of Orascom's African assets (excluding in its home country). MTN is generally thought to have coveted Orascom's Telecel Globe, which manages the Egyptian operator's Sub-Saharan African units, for some time, which would, among other things, give it the inroad into Zimbabwe that it has been looking for.

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