Sistema to acquire Russian government’s stake in SSTL (India)
Russian conglomerate Sistema will acquire the Russian government’s 17.14 per cent stake in India-based operator Sistema Shyam TeleServices Limited (SSTL). The move comes as SSTL prepares itself for a merger with Reliance Communications (RCOM). While the value of the stake has not been disclosed, the payments will be made over a period of five years, with the first payment amounting to 30 per cent of the value being made in 2016, followed by 25 per cent in 2017, and 15 per cent each in 2018, 2019 and 2020. The government had purchased the shares in March 2011 and had agreed that the Russian firm could buy them after five years for $777 million or their market value, whichever was higher.
Bharti Infratel to buy back 47 million shares for Rs 20 billion
Bharti Infratel will buy back 47 million shares for Rs 425 each in a deal valued at Rs 20 billion. The move is aimed at returning surplus funds that are over and above its ordinary capital requirements and in excess of any current investment plans to the company’s shareholders, in an expedient, efficient and cost-effective manner. According to the company, its aggregate paid-up equity capital, including free reserves, stood at Rs 103.48 billion as on March 31, 2016.
Tata Communications to sell Neotel to Liquid Telecom and RBH for ZAR 6.55 billion
Tata Communications has entered into an agreement with Liquid Telecom and Royal Bafokeng Holdings (RBH) for the sale of its South Africa-based subsidiary, Neotel, for ZAR 6.55 billion. The transaction is subject to approval by the South African regulatory authorities and is expected to be completed by end-2016. Earlier, Tata Communications was in talks with Vodacom for the sale of Neotel. The deal, however, lapsed due to regulatory complexities and non-fulfilment of certain conditions.
IoT start-up Locanix raises Rs 20 million
Ahmedabad-based logistics internet-of-things (IoT) start-up Locanix has raised Rs 20 million from global technology company Cisco and senior executives of Goldman Sachs. The company will use these funds to scale up operations. The company uses GPS tracking to provide innovative logistics solutions that help improve safety, security and operational efficiency.
ADN Telecom to raise capital through IPO (Bangladesh)
Bangladesh-based ADN Telecom Limited has decided to raise capital from the share market for business expansion. It has signed a deal with ICB Capital Management Limited to issue its shares through an initial public offering (IPO) under the book building method.
Apollo Towers receives $250 million from OPIC (Myanmar)
Apollo Towers Myanmar has received a $250 million loan from the US government’s development finance institution, Overseas Private Investment Corporation (OPIC). This marks OPIC’s first financing in the country. Apollo Towers Myanmar is a joint venture of Tillman Global Holdings, TPG Growth, and Myanmar Investments Limited. It owns and operates 1,800 towers across Myanmar, and serves Telenor, Myanmar Post and Telecommunications, and Ooredoo.
OCK to invest $243 million in Myanmar’s passive telecom infrastructure
Malaysia-based telecom tower infrastructure company, the OCK Group will invest $243 million in the country’s telecom market over the next 15 years. The group’s Myanmar unit, OCK Yangon Private Limited, will invest in the construction, deployment and maintenance of passive telecom network infrastructure. OCK’s network will reportedly be spread across 186 sites in Ayeyarwaddy, Chin and Rakhine. In December 2015, OCK had signed a contract with Telenor for building over 920 towers across the country and earmarked $75 million for the same.
Bank of Khartoum picks up Etisalat’s entire share in Canar Telecommunication (Sudan)
The Bank of Khartoum has exercised its right of first refusal regarding the sale of UAE-based Etisalat’s entire shareholding in Sudanese fixed line operator Canar Telecommunication Company to the Zain Group. The Bank of Khartoum, which holds a 3.7 per cent stake in Canar, has instead signed an agreement with Etisalat to purchase its 92.3 per cent shareholding in the Sudanese operator for a cash consideration of $95.2 million. The transaction is subject to certain conditions, including the approval of Sudanese regulator, the National Telecommunications Corporation, and the country’s competition authorities.
Camtel enters into a financing arrangement with William F. Clark & Co. (Cameroon)
Cameroon’s state-owned operator Camtel has finalised a financing arrangement with US-based lender William F. Clark & Co. LLP to expand its optical fibre cable (OFC) network in the country. The extension will enable the operator to connect 1 million households and offices in urban areas with high speed internet. William F. Clark will also finance the construction of two data centres. Camtel holds a monopoly for the OFC roll-out in Cameroon and has so far laid 6,000 km of cable across the country as a part of the central Africa Backbone (CAB) project.
