Top story | MTN may reduce Jumia stake despite listing triumph
Africa’s biggest mobile network operator MTN is likely to proceed with its plan to reduce its Jumia Technologies stake significantly even as the Nigerian-based e-commerce company soared after listing on the New York Stock Exchange on Friday.
Africa-focused Jumia’s share price leapt 75% in New York on Friday, giving it a market value of $1.9bn . In response, MTN rose 1% to R98.51 on the JSE early on Monday, the best level since the mobile operator ran into regulatory troubles in Nigeria in August 2018.MTN may shrug off Jumia gains and sell
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