MTN said to be mulling sale of stake in Botswana business

MTN is considering the sale of its stake in Botswana’s largest wireless carrier, according to people familiar with the matter, as CEO Rob Shuter seeks to reduce the number of countries in which the company operates.

Still more are tiny when compared to MTN’s largest markets. That includes Botswana, which had almost 1.7-million customers at the end of September, compared with MTN’s 225-million subscribers across Africa and the Middle East. The shares have slumped more than a third in the past year, and fell for a seventh consecutive day on Tuesday. Last week, the company said 2018 earnings would be hurt by factors including foreign-exchange losses and the settlement of a separate Nigeria dispute for $53m.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Botswana agrees to extend $95mn credit line to Zimbabwe: minister | IOL Business ReportZimbabwe is currently facing a crippling foreign currency shortage that has affected the importation of essential commodities. busrep Sadc should just put Zimbabwe under administration for 5 years,run its finances with administrator from Botswana.Or 10 years down the line Zim economic situation will be in same position.
Source: IOL - 🏆 46. / 51 Read more »

Investing in SA ‘makes business sense’, Anil Agarwal saysAt the official opening of Vedanta’s Gamsberg zinc mine in the Northern Cape, founder Agarwal said his company had invested $400m in the mine
Source: BDliveSA - 🏆 12. / 63 Read more »