African operator Telecel snaps up MTN assets as part of IPO push

Telecel Group has bought two West African units from Africa’s largest wireless company MTN Group Ltd., as it scales operations ahead of an initial public offering in three years. The Africa-focused telecommunications company is buying MTN’s debt and equity in Guinea-Bissau and Guinea-Conakry, Chief Executive Officer Moh Damush said in an interview, without disclosing the size of the latest acquisitions. This follows the purchase of Vodafone Group Plc’s operations in Ghana last year.

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