On July 5, France Telecom put additional substance in its plans to expand its emerging markets. Unveiling a so-called “Conquests 2015” plan, the company aims to double its revenues in the Middle East and Africa (MEA) region by 2015. That is ambitious, and will require the “acquisition” of around EUR 2.5bn in revenue.  

Last June, Nigerian carrier Globacom revealed it had received a license from the government of Senegal; the announcement created much ado, for the license was awarded outside of traditional channels, with the country’s regulator ostensibly not aware of it. The process was certainly a step back for Senegal’s telecoms regulatory framework. As for Globacom, it’s another step in the company’s relentless effort to build a strong challenger to France Telecom in French-speaking West African markets.   

Much as Ulysses endured the enchanting music of sirens trying to lure him to shipwreck, South African carrier MTN has been threatening to succumb to the sirens of consolidation. As the chants mount –the latest from Reliance- and MTN itself stays on the prowl for opportunities, we remain somewhat skeptical of the promise of the proposed deals. We review some of the proposed combinations.

We are pleased to announce the release of an Investor Report on Sonatel Group (Senegal), written by the Banque Regionale de Marchés (Dakar) in partnership with AfricaNext Investment Research.  This assessment of one of the leading telecom assets in West Africa aims to provide investors and operators with a unique inisght over Sonatel’s performance and valuation perspectives.:

 South African fixed carrier Telkom announced in a preliminary statement that it expected EBITDA losses at its Nigerian unit, Multi-Links, to be higher than during last fiscal year (ending March 2009). The Company has announced impairments of ZAR 2.1bn (US$260m) on Multi-Links goodwill, and a full impairment of the unit’s net asset value. Last fiscal year, Multi-Links recorded losses of around $185m, off of a negative EBITDA of around $25m. This is clearly of utmost concern.