Friday, December 2, 2011

International expansion: Mauritius Telecom is investing Rs 34 million at Sonata Software

After taking over of the telephone operator in Vanuatu, a small market of 65 000 inhabitants, the  Mauritius Telecom has purchased shares in an Indian company, Sonata Software.

MT bought 2.36 million shares at Rs 25.4 unit for an amount of Rs 34 million (60 million Indian rupees). This deal is the result of the sale of shares of a shareholder of Sonata Software.
The Indian company is listed on the Bombay Stock Exchange. Sonata Software specializes in IT services and technology. Founded in 1986, the company has 2800 employees, mostly young graduates in information technology. However, the price of the company at the Indian stock market is not the best.
For some investments MT seem a harsh response to the remarks of the Minister of Technology, Tassarajen Pillay, who said in an interview recently that the strategic alliance with France Telecom, in which MT sold 40% of its capital, was nothing we did provided in terms of regional expansion.
Those familiar with the telecommunications market show that Maurice did not take any regional initiative since the arrival of France Telecom, it seems to favor the expansion of its parent company in Africa.

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