News Formal

Business Maverick: MTN Taps JPMorgan to Separate Fintech Unit

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 84%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

MTN Group Ltd., Africa’s largest phone company, is working with advisers at JPMorgan Chase & Co. on the planned separation of its financial technology business, people with knowledge of the matter said.

MTN is studying a variety of potential deals, including bringing in partners for some of its businesses as well as possibly listing certain units in the future, to unlock value and pay down debt. The carrier is also exploring options for its data center business, the people said, asking not to be identified because the information is private.

The telecom carrier is separately working with FTI Consulting Inc. to find ways to boost revenues from its wholesale business and roaming agreements across the markets where it operates, one of the people said. Shares of MTN have roughly doubled in Johannesburg over the past 12 months, giving the company a valuation of about $22.3 billion. Deliberations are ongoing, and there’s no certainty they will lead to any transactions, the people said.MTN said in 2020 it targets to raise 25 billion rand from asset disposals over the medium term. It agreed in November to sell a portfolio of wireless towers in its home market of South Africa for 6.4 billion rand.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Business Maverick: Shopify’s 50% Slump Proves That It’s No AmazonShopify Inc. has been called “Amazon Junior.” Those shoes are proving too big to fill. I don't trade for my self, but have earn a living and extra cash from trading with the help of stephinieweller she has always been of help to me and some other friends and family people are engaging with her everyday with good reviews wow, send her a dm to get started already
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Cartoon Tuesday with RicoDefend Truth
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: U.S. Sees Rising Risk in ‘Breathtaking’ China Nuclear ExpansionChina’s “breathtaking expansion” of its strategic and nuclear arsenal is a quickly escalating risk for the U.S., the head of U.S. Strategic Command plans to tell lawmakers at a closed-door hearing on Tuesday.
Source: dailymaverick - 🏆 3. / 84 Read more »