South Africa’s Vodacom is in talks to buy a stake in mobile operator Telekom Networks Malawi (TNM), Reuters reports quoting local media.
Johan Dennelind, CEO of Vodacom’s international operations, said in a statement: “Vodacom is well positioned…
South Africa’s Vodacom is in talks to buy a stake in mobile operator Telekom Networks Malawi (TNM), Reuters reports quoting local media.
Johan Dennelind, CEO of Vodacom’s international operations, said in a statement: “Vodacom is well positioned on the continent but we are keeping our eyes open for sub-Saharan expansion opportunities. We can’t comment with respect to any particular company or country.”
Last week, TNM said it had received an expression of interest from a ‘potential strategic equity partner’, without naming the suitor.
In its H1 2011 results, released on 5 September, the company said that it had seen a “significant increase” in its subscriber base and the traffic on its network.
For the six months up to 30 June, EBITDA stood at MWK1.99bn (US$12.1m), up from MWK1.54bn (US$9.4m) for H1 2010. Its profit was MWK587m (US$3.6m).
Vodacom, which is part of the Vodafone group, is already present in Lesotho, Mozambique, Tanzania and RDC, in addition to South Africa.
The company did not reply to request for comments before press time.
