On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Listed cellular company MTN Group said on Thursday that in association with its co-shareholders in MTN Nigeria, it was exploring ways of introducing broader Nigerian shareholder participation in MTN Nigeria. Alternatives under consideration may include a potential listing of MTN Nigeria within the next 12 months, subject to market conditions, it said. MTN added in a statement to the JSE that no discussions/negotiations have commenced with potential investors that may lead to a transaction and that further announcements will follow in due course.

- Paracon Holdings, a JSE-listed ICT services company, has announced that headline earnings for the year ending 30 September are expected to be between 30% and 40% higher than those of the prior comparative period. According to Mark Jurgens, CEO of Paracon, the improvement in performance can be attributed to an upturn in market conditions and improved efficiencies within Paracon.