Africa Investments - October 2011

Investment in African telecoms picked up in October after a slow September, with $284Mn announced, principally in mobile, with the exception of Liberia and Sierra Leone receiving World Bank funding to connect themselves to the ACE subsea cable system.

Biggest deal this month was the conclusion of France Telecom's protracted takeover of Congo Chine Telecoms. FT paid $125Mn for DRC's 3rd largest carrier and an additional $71Mn for 2MHz of 1800 and 10MHz of 2100 spectrum to boost capacity - necessary given DRC's 72Mn population, much of which remains unconnected. At $92.6 per subscriber, the deal looks like a good one for FT and further strengthens its grip on Francophone Africa.

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Versatile Amphibian

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