Wataniya Palestine Mobile Telecommunications, the second Palestinian mobile phone operator, today announced the final levels of subscription for its initial public offering.

The offer, which raised US$50.3 million, was the largest in Palestine for 10 years and generated total demand of US$78 million – over 1.5 times subscribed. There was strong demand from investors – both from retail investors in Palestine and from a broad base of international institutional investors, predominantly from Europe and the Middle East, with around 13,850 applying for shares.

In accordance with the relevant provisions of the Palestinian Companies Law and the Palestine Capital Market Authority’s (PCMA) requirement to protect retail investors, the first 300 shares of all subscribers will be allocated in full. Any subscription above this amount will be allocated to investors on a pro-rata basis.

Delta Partners is a professional services company whose rise to prominence mirrors the evolution of the telecom sector as it has occurred in and from Dubai over the past five years. Having completed its start-up phase with the establishment of three distinct yet related TMT-focussed business lines – management consultancy, corporate finance and investments – Delta Partners’ group managing director Victor Font, details the next phase of the company’s progress

Victor Font, Delta Partners’ managing partner says that reverse innovation is seeing companies in emerging markets starting to export their practices and ideas to more developed markets

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VimpelCom’s board of directors has approved the proposed merger of VimpelCom and Naguib Sawiris’ Weather Investments but added that it did not take a decision on certain shareholder-related issues. As expected, six of the nine directors, including all three independent directors and the three Altimo-nominated directors, voted in favour of the transaction, with the Telenor-nominated directors voting against the deal.

The supervisory board did not approve an amended shareholder agreement or vote on other shareholder-related agreements due to Telenor’s publicly stated position that, in its capacity as a shareholder of VimpelCom, it does not support the merger.

VimpelCom said that in light of Telenor’s opposition as a shareholder, at this time no agreement has been reached with respect to the shareholder related agreements that were contemplated to be entered into in connection with the transaction.

As a consequence, the board has authorised the company’s CEO to review and take into account the rights and obligations of the parties under the current VimpelCom shareholders agreement and by-laws, and to negotiate further with Weather the terms and conditions under which Weather would be willing to enter into a revised transaction, taking into account that the shareholder related agreements are unlikely to be signed and delivered. The board has instructed the CEO to bring such revised terms, if any, back to the board for consideration and approval.

Millicom International has sold 729 towers belonging to its Tigo subsidiary in the Democratic Republic of the Congo to Helios Towers. As a result of the transaction, Tigo DRC will receive at least US$45 million of cash up front and will retain a significant minority interest in Helios Towers’ local holding company.

Additionally, Tigo DRC and Helios have entered into a long-term leasing agreement whereby Helios will provide Tigo DRC with access to wireless communications towers and a build-to-suit agreement to support the company’s wireless networks. Helios will seek similar agreements with other operators in DRC. The transaction is expected to create savings in both capital and operating expenditure for Tigo DRC.

“This agreement with Helios in DRC is Millicom’s third such deal with the company in Africa and it brings us to a point where nearly two-thirds of our towers in Africa are committed to be outsourced,” said Mikael Grahne, president and CEO of Millicom. “We view the DRC as a very attractive market for asset sharing considering its size, lower average purchasing power and logistical complexities. We are confident that this and similar previously announced ventures will continue to produce satisfactory results and improved service levels as we have experienced in Ghana since the creation of the first tower joint venture in Africa with Helios in January 2010.”

Qtel has introduced a mobile money programme that will provide people in Qatar with a comprehensive suite of financial services available via the mobile phone.

The new portfolio of services, called Qtel Mobile Money, has been designed to provide financial services to people whether or not they hold a bank account. Qtel is working with QNB to deliver security and convenience for customers of the new Qtel Mobile Money services.

Qtel’s Mobile Money services have been tested and enhanced throughout 2010, with all funds used in the services being held in trust by QNB.

Following the successful launch of international airtime credit transfer in October 2010, which enables Qtel customers to transfer credit to India, the Philippines, Pakistan, Indonesia, Nepal, Bangladesh and Sri Lanka through an established airtime network, the telco has been looking to expand the range of financial services it offers.

In the near future, people in Qatar will be able to send money and credit as easily as an SMS. The range of services planned for launch in 2011 include instant cash transfers, cash payments to shops via mobile, and cash withdrawal from ATMs using Qtel Mobile Money accounts.