| Belgacom ICS and MTN Extend Strategic Co-operation by Combining Their International Carrier Services Belgacom ICS (BICS) and MTN announce a next step in their strategic co-operation by combining their international carrier services, resulting in MTN holding an equity stake in BICS. The current shareholders of BICS, Belgacom and Swisscom, are therefore pleased to see MTN become a new shareholder.
In terms of this transaction, MTN will contribute into BICS the assets of MTN ICS, its international wholesale subsidiary, which generated revenues of €223 million for the year ending 31 Dec 2008. In addition, MTN will mandate BICS to operate as the official international gateway for carrier services of MTN globally. |
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