Money News in Brief

Mergers, Acquisitions and Financial Results

- South African investment firm Shanduka Group has bought a minority stake in MTN Nigeria from three private investors, reports Reuters. Without disclosing the size of the stake, Shanduka said it paid USD335 million for the shares. MTN Group holds 78.8% of its Nigerian business, meaning that Shanduka’s stake could be up to 21.2%. Shanduka has investments in varied sectors from mining, energy, real estate and financial services; the China Investment Corporation paid ZAR2 billion (USD226 million) for a 25% stake in the South African firm last year.