As part of a deal-making spree to unload problematic assets and boost shareholder value, MTN, Africa’s biggest mobile phone group by subscribers, unveiled plans to sell its businesses in the Middle East in transactions that could be worth as much as R25bn.
The decision underlines outgoing CEO Rob Shuter’s determination to free the company from the perception that it is constantly fighting fires.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dailymaverick - 🏆 3. / 84 Read more »
MTN’s exit from the Middle East ‘not a fire sale’Operations from the region contribute about 4% to earnings, with the mobile operator saying profits doubled in its half-year to end-June
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
MTN to exit Middle East to focus on AfricaMTN's entry into the region has been marred by allegations, which it has denied, that it used bribes to win a 15 year operating licence in Iran and also that it aided militant groups in Afghanistan.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
MTN to exit Middle East amid claims of it aiding Afghan militant groupsMTN announced plans to exit the Middle East market after several headwinds including new allegations of aiding militant groups in Afghanistan.
Source: IOL - 🏆 46. / 51 Read more »
MTN to exit Middle East to focus on AfricaOperations from the region contribute about 4% to earnings, with the mobile operator saying profits doubled in its half-year to end-June
Source: BDliveSA - 🏆 12. / 63 Read more »