Telecom Namibia acquires mobile competitor

State owned telco, Telecom Namibia has acquired its mobile network rival, Leo for an undisclosed amount and will fold the company into its own mobile services.

Leo was owned by Telecel Globe, a subsidiary of Orascom Telecom and was sold to a consortium of banks for US$60 million earlier this year.

Telecom Namibia chairman, Joseph Iita told local media that a formal announcement will be made later, but that the government is supportive of the deal.