MTN may buy majority stake

MTN Group may buy ZTE's 51% stake in a mobile phone company in the Democratic Republic of Congo to widen its lead as the biggest wireless operator in Africa, reports Bloomberg.

MTN is the front-runner among several suitors in talks to acquire control of Congo-Chine Telecom Sarl, says Kang Linghua, a spokesman at the venture. Negotiations to sell the country's third-largest wireless operator, valued at about $400 million, may stretch beyond this year because of the financial crisis, he said. MTN declined to confirm or deny the discussions.

A purchase would allow Johannesburg-based MTN to expand into a market that's forecast to add 25 million subscribers over five years, as 85% of people there still have no mobile phones.

Mobile banking is a budding service in Latin America and is expected to catch on in countries such as Chile, Brazil, and Argentina, where the economic and political conditions are relatively stable, writes FoxBusiness.

New analysis from Frost & Sullivan finds that currently the main channel of connection is SMS and is likely to remain so since mobile banking through messaging will be less expensive for the user and will not require a sophisticated handset.

But, even though the most important connection channel with the highest rates of adoption is messaging, accessing mobile banking with a special WAP application will represent a considerable increase in mobile data use, and carriers will be most interested in working together with financial institutions to promote this value-added service.

Those looking to find the right mobile phone at an affordable price have been given some advice by one US-based network, according to Mobile Phones.

Verizon Wireless said this week that during a time of economic uncertainty, everyone will try to cut corners wherever possible, adding that this is possible if shopping for a new handset.

However, the company added that this does not mean a consumer needs to compromise on the quality of the contract or pay-as-you-go package they opt for and offers a series of tips to make the decision easier. Choosing a price plan that best fits the lifestyle of the individual is the first step, the group explained, along with test driving the network wherever this is possible.