South African telecoms giant MTN to pull out of Mideast

Africa’s largest mobile operator, South African telecoms giant MTN, announced Thursday it would pull out of the Middle East to concentrate on Africa, and scrap its interim dividend under a blueprint to navigate the coronavirus pandemic.

The statement said that in the January to June period, MTN’s subscriber base rose by 10.6 million to 251.5 million compared to end-2019. “MTN delivered strong results for the period against the backdrop of difficult trading conditions, exacerbated by the unprecedented socio and macroeconomic challenges caused by the COVID-19 pandemic,” Shuter said.

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