Areeba Syria launches 3G, while MTN shareholders support Investcom deal

The acquisition of Investcom has already received valid acceptances from shareholders owning approximately 78.1% of the issued share capital of the company.

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By  Tawanda Chihota Published  June 28, 2006

Areeba Syria, Investcom’s Syrian mobile operator has announced the launch of 3G services including video calls and high-speed internet. The 3G video call service will enable customers to communicate with other subscribers via audio and video means. Both users must have a 3G enabled line and handset and be under a 3G network coverage zone in order for the video call to work. Additionally, the high-speed internet service will offer subscribers high speed internet at speeds up to 340 Kbps. In May, South Africa mobile operator MTN offered to acquire Investcom for US$5.5 billion, and earlier this week announced that its shareholders have approved all the resolutions relating to the proposed Investcom offer to acquire the entire issued share capital of the Dubai- and London-listed company, Investcom. The acquisition of Investcom has already received valid acceptances from shareholders owning approximately 78.1% of the issued share capital of Investcom and the acquisition has become unconditional as to acceptances. "The approval of these resolutions by the requisite majority of our shareholders is good progress towards the conclusion of the Investcom deal and brings us closer to the realisation of the MTN Group’s strategy to consolidate our position in Africa and the Middle East,” commented MTN Group president and CEO, Phuthuma Nhleko.

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