Nytex

In Brief:Orange completes 100% acquisition of Tigo DRC 

France-based Orange Group has announced it has completed the acquisition of 100% of Millicom International Cellular’s (MIC’s) Tigo subsidiary in the Democratic Republic of Congo (DRC). Bruno Mettling, Deputy CEO of Orange in charge of Operations in Africa and the Middle East, commented: ‘We are extremely happy to announce the completion of the acquisition of Tigo by Orange DRC in a market marked by very strong growth potential. Through this strategic investment, Orange confirms its ambition to reinforce its presence in the DRC and accelerate the conditions in which it can develop its services through this consolidation.

***Alcatel-Lucent Submarine Networks (ASN), part of Nokia, has announced that it is set to implement two major upgrades on transpacific and transatlantic undersea cable systems to boost global connectivity. The company claims the upgrades will add terabits of capacity on each route bringing more scalability and redundancy to the delivery of high-speed, low-latency services over resilient high-capacity systems.

***Telefonica is weighing possible options for its O2 U.K. business as doubts loom over its planned sale to 3UK parent CK Hutchison.The Spanish incumbent is considering restarting the sale process for O2, with cable group Liberty Global or private equity firms among the possible buyers. Other options on the table include spinning off a publicly-listed O2.Telefonica is also said to be moving forward with plans to spin off its recently-created infrastructure holding company Telxius in a bid to soften the blow should the £10.25 billion deal with Hutch fall through.Telefonica is keen to raise cash in order to pay off some of its hefty net debt, which stood at €49.92 billion at the end of December 2015.

***America Movil revealed last year that it was looking to sell its stake in KPN and talk of the Mexican operator's Dutch exit resurfaced again this week. The telco is debating the sale of its 21.1% stake in KPN and considers Orange a possible buyer. However, they said it has yet to make a final decision on the timing or structure of a sale.America Movil's stake is valued at around €3.2 billion, a price that could make it attractive to other telcos, the French incumbent included. An Orange spokesperson said that it is not working on any specific plans with regard to KPN though.KPN is keen to welcome new blood to its shareholder structure.

***Saudi Arabia's struggling mobile network operator, Etihad Etisalat (Mobily) has posted its first profit following the write down of nearly USD1 billion of its previous earnings. The company posted a modest profit of SR16.6 million($4.43 million) for the first three months of this year,compared to an adjusted loss of SR44.5 million a year ago. However, revenues fell to SR3.44 billion compared to SR3.66 billion a year earlier. The company attributed that to a decline in phone sales and a slowdown sales affected by customers fingerprint validation.