Telecel continues march on Africa with takeover of MTN subsidiaries

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MTN, the pan-African telecoms champion, has announced the sale of its subsidiaries in Guinea-Bissau and Guinea-Conakry to the Telecel Group, disappointing Axian, which had been in the running.

In February 2024, Telecel rebranded the Ghanaian subsidiary of Vodafone, which it had acquired in 2023.

Axian will not take the spoils in West Africa. The Madagascan conglomerate, headed by Hassanein Hiridjee, was mentioned by MTN in May 2023 as a serious candidate for the acquisition of three West African subsidiaries the group wanted to sell in Guinea-Bissau, Guinea Conakry and Liberia. On 28 March, Telecel Group announced its agreement to buy MTN Guinea-Bissau and MTN Guinea for a symbolic dollar each, as well as taking over the debts and equity of both entities.Morocco’s Tanger Med breaks into top 20 ports

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