MTN considers sale of stake in Nigerian unit

7 February 2020

Mergers, Acquisitions and Financial Results

South African telecoms company MTN Group is reportedly considering reducing its stake in its Nigerian unit, as part of a strategy to offload non-essential businesses, according to Bloomberg.

 

A roughly 14% stake of MTN Nigeria, the country’s largest cellco by subscribers, could be sold, reducing MTN Group’s total shareholding to about 65%.

 

In addition, wireless tower company IHS Holdings is on the list for potential sale, while MTN is ‘seriously investigating’ the prospect of taking part in a planned privatisation of Ethiopia’s monopoly operator Ethio Telecom, according to an MTN spokeswoman.

Source: Telegeography