Case | HBS Case Collection | December 2004 (Revised July 2006)

Celtel International B.V.

by G. Felda Hardymon and Ann Leamon


Mo Ibrahim, chairman of Celtel International, the largest provider of cellular services in sub-Saharan Africa, must decide on his company's future. After an amazing six years that took it from minority positions in three countries to nearly $1 billion in revenues and 14 operations in 13 countries, the company has three options: to attempt an IPO, to find a merger partner, or to continue as an independent entity. Ibrahim must consider the company's track record, its current situation, and the implications of each option.

Keywords: Decisions; Initial Public Offering; Business Growth and Maturation; Mergers and Acquisitions; Entrepreneurship; Wireless Technology; Telecommunications Industry; Africa;


Hardymon, G. Felda, and Ann Leamon. "Celtel International B.V." Harvard Business School Case 805-061, December 2004. (Revised July 2006.)