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MTN said to be mulling sale of stake in Botswana business

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A disposal of the interest in Botswana’s Mascom could generate as much as R2.5bn, sources say

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.

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