MTN ups Ugandan stake to 94%

25 Jul 2006

South Africa’s MTN Group has further increased its stake in MTN Uganda to 93.74%, following the successful acquisition of the entire 12.89% stake held by Rwanda-based Tri-Star Investments for USD55 million in cash. Earlier this month MTN Group completed the purchase of a 32% stake in MTN Uganda from Overseas Telecom, a subsidiary of TeliaSonera, for SKR1.2 billion (USD16.8 million). Both deals were conducted by MTN Group’s wholly owned subsidiary MTN International (Mauritius).

Uganda, MTN Uganda