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’s beleaguered shareholders, who have been hit by crises ranging from allegations of corruption in Iran to the head of their Ugandan business being deported, were granted a reprieve on Thursday.
The first of the planned sales, in line with CEO Rob Shuter's plan to simplify the business and concentrate in areas where it had the best potential would involve the sale of its 53% stake in Mascom Wireless Botswana to Econet for $300m . In 2018, the operator’s shares crashed when Nigeria's central bank demanded that it return $8.1bn worth of dividends, while the country's attorney-general said it owed $2bn in back-taxes. A court hearing on the tax dispute is due later in March, while the tussle with the central bank has been resolved.
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