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Etisalat eyeing South Africa's MTN

Etisalat eyeing South Africa's MTN

UAE telecom Etisalat said on 12 May it is evaluating a possible bid for South Africa's MTN, which is also a potential target of India's top mobile operator.

Etisalat Chairman Mohammed Omran said his company was looking at MTN, Africa's largest mobile phone operator, and hopes to boost revenue from the continent to at least a quarter of total revenue within four years. "We are always looking for expansion in Africa," Omran told reporters at a telecoms conference in Cairo. "We are evaluating MTN, among other companies."

He did not give further details about how Etisalat - whose market capitalisation of US$35bn is below MTN's - would approach a tie-up. India's Bharti Airtel and MTN have said they are in talks that may or may not lead to a deal.