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NFS and Telecel Global Merger Boosts Telecel Operations
BARCELONA, Spain-Saturday, March 4th 2017 [ ME NewsWire ]
At the Mobile World Congress Barcelona 2017, NFS, holding company of Telecel mobile operations, announced its merger with Telecel Global (formerly Exxon Telecom), the leading global international Carrier.
The merger will yield operating cost savings for Telecel operations subsidiaries of NFS, enable higher quality for their international telecommunication services, and expand the product offering in their markets.
In addition to the anticipated efficiencies, the transaction is expected to fuel the future growth of the larger combined entity.
Exxon Telecom, rebranded under Telecel Global earlier this month, will operate as the official international gateway for carrier services for NFS operations. The merger will enable Telecel Global to both expand its footprint across the African continent, as well as accelerate the growth of its global carrier business. Malek Atrissi, Director and COO of Telecel Global, said: “the agreement with Telecel is a strategic fit for our business in terms of expanding our reach and consolidating the international communication services. This strategic move enables us to boost our position on this continent where we have been active since more than 10 years now, and ensures that the synergies created between the 2 entities create significant value to all stakeholders involved.”
The merger will also pave the way for the launching later this year of the quadruple play operator in South Africa under Telecel brand, in addition to the closing of the acquisition talks currently underway with different mobile network operators across Africa.
Aimable Mpore, CEO of Telecel Central Africa commented: “Telecel continuously endeavors to improve the services provided to its customers and the quality of the international service offering is key for customer experience. Merging our entity with Telecel Global enables us to achieve this vision while leveraging from new market segments in existing and new operations especially in the upcoming South Africa launch.”
NFS aims at growing both organically and through acquisitions to become a leading player over the African continent. The parties to the merger declined to disclose further details on the specifics of the merger agreement or their expansion plans.
Sayde Bahsa, +961-1381553
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