MTC to launch rights issue

10 Nov 2005

Kuwaiti telecoms powerhouse MTC Group is to hold a rights issue through which it hopes to raise around USD2.3 billion, according to AME Info. The issue will run from 19 to 30 November and is being managed by the National Bank of Kuwait. The proceeds will be used to repay loans taken out for the purchase of pan-African mobile group Celtel International and raise funds for future acquisitions; MTC is rumoured to be mulling the purchase of Nigerian cellco Vee Networks, amongst others.

Kuwait, Zain Kuwait,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share