MTC to acquire Celtel.(KUWAIT)(Mobile Telecommunications Co)(Brief Article)

Mobile Telecommunications Co. KSC of Kuwait plans to purchase the pan-African telecommunications company Celtel International BV. The deal is valued at $3.4 billion. MTC has operations across Kuwait, Jordan, Lebanon, Iraq and Bahrain with a subscriber base of 3.4 million customers. The acquisition of the Amsterdam-based Celtel will help it to expand its services in one of the fastest growing markets of Africa. Celtel is one of Africa's largest mobile companies with a subscriber base of about 5 million spread across 13 nations. The new company will have a su