MTN reduces Nigerian holding

12 Feb 2008

South African mobile firm MTN has reduced its stake in MTN Nigeria to 76.08%, to broaden the ownership of its Nigerian unit. Nigerian individuals and key institutions acquired a 9.45% interest in MTN Nigeria. MTN realised USD594.5 million from selling 5.96% of its own stake in the Nigerian business, according to an MTN press release. The remaining shares were sold by other minority stakeholders.

Nigeria, MTN Group, MTN Nigeria