TeliaSonera sells 32% stake in MTN Uganda

10 Jul 2006

TeliaSonera has announced that Overseas Telecom, in which it holds a 65% stake, has sold its 32% holding in MTN Uganda to MTN International (Mauritius) Ltd for SKR1.2 billion (USD16.8 million). The divestment is in line with the Swedish company’s strategy to ‘successfully realise previously made investments,’ said a company spokesman in a statement. MTN International (Mauritius) is a wholly owned subsidiary of MTN Group Ltd, South Africa. As a result of the deal, MTN’s stake in the Ugandan operation will rise to 84.44%.

Uganda, MTN International, MTN Uganda, Telia Company