MTN still plans on selling stake in Nigerian unit

1 Apr 2020

South Africa-based MTN Group is still pressing ahead with plans to reduce its 79% stake in Nigeria’s largest mobile operator by subscribers, CFO Ralph Mupita told news agency Bloomberg. Having resolved a number of disputes with the local authorities, MTN still expects to sell a further 15% stake in its Nigerian unit to local investors, reducing the group’s ownership to about 64%, but this may have to be carried out in phases due to the COVID-19 pandemic and a slump in oil prices.

Nigeria, MTN Group, MTN Nigeria