MTN acquires 51% stake in Loteny Telecom

6 Jul 2005

South Africa-based MTN Group has bought a 51% stake in Cote d’Ivoire’s Loteny Telecom, which operates under the brand name Telecel. The move has enabled MTN to expand its reach across the west African region; it already has operations in South Africa, Swaziland, Rwanda, Uganda, Cameroon and Nigeria. Telecel had 817,871 subscribers and a market share of around 46% at the end of March 2005. The value of the deal has not been disclosed.

Côte d'Ivoire, MTN Cote d'Ivoire (incl. MTN Business), MTN Group