South Africa’s MTN Group is set to push ahead with a plan to reduce its majority stake in its mobile operation in Nigeria, though uncertainty caused by the onset of the coronavirus pandemic may require the sale to be executed in smaller tranches.
MTN Group set to press on with stake reduction in Nigeria
April 1st, 2020 — Miscellaneous
Saudi extends MVNO license bid deadline to August 10
March 22nd, 2020 — Miscellaneous
Saudi Arabia’s Communications and Information Technology Commission (CITC) has announced the extension of the competition to license new mobile virtual network operators (MVNOs).
The bid process was launched on January 14, with a submission deadline May 10, which has now been extended to August 10, 2020. The Kingdom currently has two operational MVNOs – Virgin Mobile Saudi and Jawraa Lebara were licensed in 2014, operating on STC’s and Mobily’s networks respectively.
Zain sells and leases back passive infrastructure from IHS
February 19th, 2020 — Miscellaneous
Zain Kuwait has completed the sale and leaseback of the passive physical infrastructure of its 1,620 mobile tower portfolio for US$130 million (KD 40 million) to IHS Holding Limited (IHS). The transaction is the first sale and leaseback of telecom towers in the Middle East region by a licensed mobile operator.
STC buys into Egypt with acquisition of Vodafone stake
January 29th, 2020 — Miscellaneous
Vodafone Group has agreed a deal to sell its 55 per cent stake in Vodafone Egypt to Saudi operator STC for US$2.4 billion, as part of plans to reduce debt and refocus on core markets.
Bad to worse for Travelex as it faces aggressive ransomware attack
January 8th, 2020 — Miscellaneous
The cyber hacking saga at Travelex continues as media reports now suggest the international foreign currency dealer has fallen prey to a ransomware attack with a group called Sodinokibi claiming responsibility for the incident and demanding a US$6 million payment to restore systems.
