MTN in bid for Orascom

MTN has confirmed it is in talks to buy Egypt's Orascom Telecom, a $9billion (about R67billion) deal that could include Algeria's top mobile phone firm.

MTN has confirmed it is in talks to buy Egypt's Orascom Telecom, a $9billion (about R67billion) deal that could include Algeria's top mobile phone firm.

Purchasing all of Orascom, which has a market capitalisation of $7,2billion (about R53billion) and almost 93 million subscribers, would give MTN access to markets in Algeria, Pakistan and untapped North Korea. - Reuters

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