Spaceloon - Africa consortium for near space communication

From site:

Spaceloon was created as the common face of a consortium of companies operating in Africa that seeks a cheaper than satellite approach to communication. Our target is to provide ubiquitous wireless coverage to Africa at the cheapest price possible. We believe the time is now to deploy such spacial technology to enable the continent to leap frog into the 21st century.

WSJ has an article about investors flocking to Africa to acquire Telecoms.

Telecom Players Focus on Africa

Deal-Making Flurry
Shows the Desire
To Tap Into Growth

By ROBB M. STEWART
June 5, 2008; Page B5

JOHANNESBURG, South Africa -- Amid a global scramble for new subscribers, telecommunications operators and investors are taking a sudden shine to a place with lots of potential customers: Africa.

In the latest show of interest, private-equity firms Apax Partners Worldwide LLP, Madison Dearborn Partners LLC and TA Associates Inc. agreed to buy a €1.1 billion ($1.7 billion) stake in Weather Investments, a holding company owned by Egyptian billionaire Naguib Sawiris. Among other assets, Weather holds a controlling stake in Orascom Telecom Holding SAE, one of the biggest telecom outfits in subscriber terms in Africa and the Middle East.

That continued a flurry of deal-making. On Monday, news broke that South African businessman Tokyo Sexwale is leading a consortium, including U.S. hedge fund Och-Ziff Capital Management LLC, exploring an acquisition of Telkom SA Ltd., the continent's largest fixed-line operator in terms of subscribers and revenue. The same day, Vodafone Group PLC, the world's largest mobile operator in revenue terms, said it wanted to boost its stake in a joint mobile-phone venture with Telkom. Last month, an Indian suitor walked away from merger talks with Africa's largest mobile carrier, MTN Group Ltd., only to be replaced by another Indian company.

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