Nytex

Orange accelerates mobile money services in Africa 

Orange has received Electronic Money Establishment licenses (EME) in Senegal, Mali, Ivory Coast and Guinea and is setting up an Orange Money Compliance Expertise Centre (CECOM) in Abidjan devoted to Orange Money. Orange filed license requests with central banks in early 2016. Each EME, licensed by the Central Bank of its territory, is an autonomous subsidiary controlled by the local telecom operator.

***Telia Company agreed to sell its Tajikistan operation Tcell to its local partner, as part of its ongoing plan to exit Eurasia.The Aga Khan Fund for Economic Development (AKFED), which holds 40% of Tcell, has agreed to pay Telia US$39 million (€34.7 million) for Telia's 60% stake in the company.The transaction is subject to regulatory approvals in Tajikistan and is expected to close by the end of 2016.

***LG Electronics announced further details of its V20 smartphone, the first in the world to run Android 7.0. In addition to Android Nougat, the phone runs a new version of LG's user interface 5.0+ and comes with the Second Screen feature to check notifications without unlocking the phone and a split-screen function for viewing two apps at once. The V20 also boasts a range of new audio features such as Steady Record 2.0, a Hi-Fi Quad DAC and the HD Audio Recorder as well as front and rear wide-angle lens cameras. LG said the phone will be launching soon across the US, at AT&T, B&H, Sprint, T-Mobile, U.S. Cellular, Verizon, select Best Buy stores and BestBuy.com. It will also launch in Korea this month, followed by other regions

***Telia agreed to sell its 60 percent holding in Central Asian Telecommunications Development, which controls the Tajikistan operator Tcell, to the Aga Khan Fund for Economic Development (AKFED). AKFED is already a minority owner in Central Asian Telecommunications Development with a 40 percent holding. The transaction is expected to close by the end of 2016 and is subject to regulatory approvals in Tajikistan. The deal gives Tcell an enterprise value of USD 66 million, of which Telia Company's 60 percent share corresponds to USD 39 million. Based on current forex rates, the agreed price implies an EV/EBITDA multiple of approximately 4.0x based on Tcell's 2015 results.

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