In a deal valued at US$1.332 billion, MTC has acquired from Sudatel 61% of Sudanese mobile operator Mobitel. Mobitel currently has almost 2 million customers, up 70% in the last year. Funding for this new transaction was secured following the capital increase from an equity rights issue of US$2.3 billion.
MTC believes the main advantages of acquiring Mobitel is the opportunity to manage a mobile business in one of
Dr Saad Al Barrak, Deputy Chairman and Managing Director, MTC, stated: "MTC is committed to accelerating the growth of Mobitel and maintaining its dominant position in the dynamic Sudanese mobile market - we are also keen on expanding our operations throughout