CEO Rob Shuter says the group plans to sell its stake in Mascom Wireless Botswana to Econet as it does not have control over it
MTN, whose shares have been battered by regulatory troubles across its portfolio of 21 markets, has raised its medium-term revenue targets and announced plans to sell at least R15bn worth of assets to reduce debt.
The mobile operator was also targeting a return-on-equity ratio of above 20%, from 11.5% in 2018, he said. As part of those plans, Shuter said MTN would sell its 53% stake in Mascom Wireless Botswana to Econet for $300m as it did not have control over that asset.
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