Tokyo Banking Correspondent
David's Feed
Aug 2, 2012

Turkcell says MTN case may not get fair trial in S.Africa

JOHANNESBURG, Aug 2 (Reuters) – Turkish mobile operator
Turkcell said its $4.2 billion lawsuit against rival
MTN Group may not get a fair hearing in a South African
court, given its opponent’s longstanding ties to the ruling
African National Congress.

Turkcell also claimed in U.S. court documents filed on
Thursday that its witnesses could face intimidation from MTN if
the case were heard in South Africa.

Jul 11, 2012

South Africa’s Mondi to buy Oaktree asset for $782 million

JOHANNESBURG (Reuters) – South Africa’s Mondi Group (MNDJ.J: Quote, Profile, Research, Stock Buzz) said it will buy German packaging firm Nordenia International from Oaktree Capital (OAK.N: Quote, Profile, Research, Stock Buzz), in a $782 million deal that will give the paper maker a bigger presence in consumer packaging.

Mondi (MNDI.L: Quote, Profile, Research, Stock Buzz), which has largely focused on emerging markets with its $3.2 billion marketcap, said on Wednesday it will buy 93.4 percent of Nordenia from private equity firm Oaktree and other minority shareholders in a cash and debt deal.

Jul 11, 2012

S.Africa’s Mondi to buy Oaktree asset for $782 mln

JOHANNESBURG, July 11 (Reuters) – South Africa’s Mondi Group
said it will buy German packaging firm Nordenia
International from Oaktree Capital, in a $782 million
deal that will give the paper maker a bigger presence in
consumer packaging.

Mondi, which has largely focused on emerging
markets with its $3.2 billion marketcap, said on Wednesday it
will buy 93.4 percent of Nordenia from private equity firm
Oaktree and other minority shareholders in a cash and debt deal.

Jun 15, 2012

Special Report: How an African telecom allegedly bribed its way into Iran

WASHINGTON/JOHANNESBURG (Reuters) – For a South African telecommunications company, it represented a unique chance to seize what its chief executive called “one of the most significant ‘virgin’ mobile opportunities in the world.”

But the location, he added in a memo marked “Strictly Confidential,” was “no normal country.”

Jun 15, 2012

How an African telecom allegedly bribed its way into Iran

WASHINGTON/JOHANNESBURG, June 15 (Reuters) – For a South
African telecommunications company, it represented a unique
chance to seize what its chief executive called “one of the most
significant ‘virgin’ mobile opportunities in the world.”

But the location, he added in a memo marked “Strictly
Confidential,” was “no normal country.”

May 21, 2012

Barloworld pins hopes on China and Russia

JOHANNESBURG, MAY 21 (Reuters) – South African industrial
group Barloworld expects Chinese and Russian demand for
resources to underpin growth for equipment such as forklifts and
trucks, its chief executive told Reuters in an interview.

Worries about slowing demand from the world’s second-largest
economy have hit commodities and led miners to defer spending
plans. Yet Clive Thompson, head of the $2.3 billion equipment
supply company, said such fears may be overblown.

May 11, 2012

Middle East investors slowly wake up to Africa

ADDIS ABABA, May 11 (Reuters) – Flush with cash from oil and
stuck with few options for growth in developed markets, Middle
East investors are increasingly looking to nearby Africa.

While the fast-growing continent offers plenty of
opportunities, bankers say there are also a raft of challenges
for Middle East investors, particularly due to the relatively
small size of potential deals.

May 11, 2012

Nigeria’s UBA shelves plans for $500 mln Eurobond

ADDIS ABABA, May 11 (Reuters) – Pan-African lender United
Bank for Africa (UBA.LG: Quote, Profile, Research) has shelved its plans for a $500
million Eurobond as it focuses on strengthening its existing
businesses, its chief executive said on Friday.

“What we’re doing right now is just to consolidate the
business,” Phillips Oduoza told Reuters on the sidelines of the
World Economic Forum on Africa in Addis Ababa.

Apr 19, 2012

Africa to be next boomtown for private equity

JOHANNESBURG (Reuters) – Africa is the next big thing, just ask Bob Geldof and other private equity bankers.

The Irish rocker made headlines in February when he announced the launch of his $200 million “8 Mile” fund, a sign the Live Aid organizer had turned from promoting debt forgiveness to private enterprise.

Apr 19, 2012

JPMorgan bets on transaction banking in Africa

JOHANNESBURG (Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) is pushing transaction banking in Africa and plans to add 50 new staff in Nigeria over the next five years, as it targets growing demand for trade finance from African firms, its head for the region said on Thursday.

John Coulter, JPMorgan’s senior country officer for sub-Saharan Africa, also told the Reuters Africa Investment Summit the U.S. bank was aiming to roll out a full branch in Nigeria, with local currency capabilities, by the end of 2013.

    • About David

      "David Dolan covers banks, consumer lenders and financial regulation in the world's second-largest economy. Before that, he covered Tokyo's stock market for Reuters and also did reporting stints on Capitol Hill and Chicago's City Hall. He was born in Ireland and grew up in Chicago."
    • Follow David