MTN cancels $300 million stake sale in Mascom Wireless Botswana
JOHANNESBURG – South African telecoms major MTN Group Ltd has ditched a plan to sell its 53% stake in Mascom Wireless Botswana, which was supposed to net the company $300 million.
Africa’s largest mobile operator by subscribers said in a quarterly update on Thursday that certain conditions related to the transaction had not been met, which led to the company’s decision.
Chief Financial Officer Ralph Mupita said on a call with reporters that the bid for MTN’s stake in the business had been unsolicited, and it was for now no longer being held for sale.
Source: iol.co.za