{"id":16031,"date":"2012-10-31T20:18:22","date_gmt":"2012-10-31T18:18:22","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-1-nigerias-starcomms-gets-210-mln-from-investment-group\/"},"modified":"2012-10-31T20:18:22","modified_gmt":"2012-10-31T18:18:22","slug":"update-1-nigerias-starcomms-gets-210-mln-from-investment-group","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-nigerias-starcomms-gets-210-mln-from-investment-group\/","title":{"rendered":"UPDATE 1-Nigeria&#8217;s Starcomms gets $210 mln from investment group"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Deal involves merger of three Nigerian telecom firms<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Aims to create national broadband internet firm<\/p>\n<p><span><\/span><\/p>\n<p>* Deal requires shareholders&#8217; and regulatory nod<\/p>\n<p> (Adds details, background)<\/p>\n<p><span><\/span><\/p>\n<p>LAGOS, Oct 31 (Reuters) &#8211; Nigeria&#8217;s Starcomms<br \/>\nhas agreed a $210 million investment deal with investor group<br \/>\nCapcom Limited for a 90.5 percent stake in the telecom business,<br \/>\nthe stock exchange said on Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>Under the deal, Capcom, an investment vehicle with offices<br \/>\nin Lagos, will merge the assets of privately-held telecom firms<br \/>\nMTS and Multi-links with Starcomms, Nigeria&#8217;s only listed<br \/>\ntelecoms company, and provide $98 million to finance their<br \/>\nintegration.<\/p>\n<p><span><\/span><\/p>\n<p>Capcom aims to create a national broadband internet company<br \/>\nout of the merger. Starcomms is the only telecoms company in<br \/>\nNigeria that is listed on the local bourse.<\/p>\n<p><span><\/span><\/p>\n<p>Nigeria&#8217;s telecom regulator told Reuters this month that<br \/>\nthree of its CDMA mobile operators &#8211; Starcomms, Multi-links and<br \/>\nMTS &#8211; were seeking approvals to merge.<\/p>\n<p><span><\/span><\/p>\n<p>CDMA mobile operators like Starcomms have been hard hit from<br \/>\nincreasing competition in recent years in Africa&#8217;s biggest<br \/>\ntelecom market, causing these firms to lose market share to<br \/>\nrival GSM operators.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s MTN, India&#8217;s Airtel and<br \/>\nEmirate&#8217;s Etisalat account for around 95 percent of<br \/>\nthe local market.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Deal involves merger of three Nigerian telecom firms * Aims to create national broadband internet firm * Deal requires shareholders&#8217; and regulatory nod (Adds details, background) LAGOS, Oct 31 (Reuters) &#8211; Nigeria&#8217;s Starcomms has agreed a $210 million investment deal with investor group Capcom Limited for a 90.5 percent stake in the telecom business, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16031","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16031"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}