Both Ethiopian operators announce positive news

Xavier Niel’s investment vehicle Atlas increased its bid for Latin America-focused Millicom too US$4.1 billion, after the Millicom board rejected its previous offer for “undervaluing” the business.

MTN Group saw a ZAR9 billion (US$506 million) loss and blamed the ongoing battle against currency devaluation in Nigeria and grappling with the civil war in Sudan.

Kazakhtelecom completed the US$1.1 billion sale of its subsidiary, Mobile Telecom Service LLP, to Qatari Power International Holding (PIH) in a move to align with the Kazakh president’s orders to demonopolise the Kazakh mobile market.