Vodacom buys Gateway units

Say it with a sting.....

August 29, 2008

South African mobile operator Vodacom, joint owned by Telkom and Vodafone, has agreed to buy most of African network and satellite services firm Gateway for an enterprise value of $675-million.

Vodacom said the deal would boost its presence in Nigeria, Africa's biggest mobile phone market, and improve its offering of converged communication services across Africa. The deal does not include privately-owned Gateway's broadcasting business.

Business Report IOL