MTC acquires 61% of Mobitel

7 Feb 2006

Kuwait-based MTC Group has acquired a 61% stake in Sudan mobile operator Mobitel from its parent, state-owned fixed line monopoly telco Sudatel. MTC paid USD1.332 billion for the holding, and the funding has already been secured following the capital increase from an equity rights issue of USD2.3 billion. Mobitel is Sudan’s largest cellco with around 1.3 million subscribers at the end of September 2005. It competes with Bashair Telecom (Areeba). MTC said it hopes to add over one million customers to Mobitel’s network by the beginning of 2007.

Sudan,Zain Kuwait, Zain Sudan,

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