MTN has concluded the acquisition of 51% of Telecel Cote d`Ivoire, one of two network operators in the Ivory Coast.
MTN CEO Phuthuma Nhleko says the last of the conditions relating to the deal have been met.
With more than 800 000 subscribers and a market share of about 46%, Telecel Cote d`Ivoire holds positive growth prospects for the group, MTN says.
The group says the Ivory Coast`s current population (about 17.3 million) is expected to grow by about 2.2% a year. The total mobile market at the end of last year was 1.8 million subscribers - a penetration rate of about 11%.
The penetration level is expected to grow to 12% this year (2.2 million subscribers), 18% by 2010 and 20% in 2015.
A subscriber is defined as someone who made or received a revenue-generating call in a 90-day period.
MTN announced last month that it was also acquiring Zambian operator Telecel Zambia. The two acquisitions bring to eight the number of MTN`s operations and bring the total subscriber base to more than 16 million.
The group`s other operations are in SA, Nigeria, Cameroon, Swaziland, Rwanda and Uganda.
The MTN share closed at R44.37 on the JSE yesterday, up 7c or 0.2% from Monday`s close.
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