Mobitel denies assumptions on acquisition

Leading mobile service provider Mobitel Ltd., in a statement denied reports in certain print and digital media outlets that it was looking to pay over and above the value of a targeted entity in an acquisition contemplated by the company. 

Mobitel stated that it was considering a strategic acquisition of a local operator to enhance its market position and asset base in line with a strategic investment plan.

Furthermore, Mobitel stated that it was following the due process required for such a transaction and no finality had been reached.