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Globacom expresses interest in
Telkom’s assets in Vodacom
Accra, Sept. 9, Ghanadot/GNA - Globacom, Nigeria’s second
national carrier and Africa’s fastest growing
telecommunication network, has expressed interest in
Telkom’s asset in Vodacom, a leading telecommunication
network in Southern Africa.
Globacom’s interest in Telkom’s assets in Vodacom had
already generated tremendous enthusiasm on the continent as
it is seen as Africa’s indigenous solutions to huge telecoms
challenges on the continent, a statement in Accra said.
It quoted sources in Johannesburg as saying if the deal
succeeded it would lead to 100 per cent merger between
Globacom and Vodacom, hence creating the largest
telecommunication company on the continent.
“If the alliance is consummated it will enable both Globacom
and Vodacom pool resources together and build a Pan-African
telecommunication giant that will be the biggest and best,”
the source added.
Mr. Joe Fizelle of Mowana Investment in Johannesburg said
the offer would be considered because it represented value
and growth to Telkom shareholders.
He also said the deal would see Globacom merge with Telkom’s
assets in Vodacom in a new listed entity dubbed; “Vodaglo”,
with both companies being equal partners.
Mr. Fizelle expressed the hope that the South African
government with 39 per cent stake in Telkom would find the
Nigerian offer more attractive than retaining a minority
interest in Vodacom.
Globacom, which inaugurated its network earlier this year in
Benin, is on the verge of sealing operating licenses in
other two West African countries within next month as well
as building a submarine optic fibre cable from Lagos in
Nigeria through 16 African counties to bid in the United
Kingdom and US.
The statement quoted industry watchers in South Africa as
saying the new development had better prospects in store for
both companies as it would foster stronger bonds.
“This move is the next biggest thing to really drive home
the need for investment cooperation between Nigeria and
South Africa,” it said.
GNA
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