UPDATE 2-African telecoms titan MTN raises $140 mln from divestment plan [Reuters (UK)]
MTN GROUP LTD S/ADR (MTNOY)
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Source: Reuters
UPDATE 2-African telecoms titan MTN raises $140 mln from divestment plan - Reuters 3 Min Read * Sold loan in ATC Ghana, interest in Amadeus * Looking to redeem preference shares in Nigeria * Service revenue up 9.7% * HEPS down 9.3 (Adds detail) By Nqobile Dludla JOHANNESBURG, Aug 8 (Reuters) - MTN Group Ltd has raised 2.1 billion rand ($140.24 million) from asset sales as part of a divestment plan announced in March, Africa’s largest mobile network by subscribers said on Thursday after reporting a 9.3% drop in earnings. MTN is reviewing a raft of investments under the three-year, 15 billion rand divestment programme as it moves to focus on high-growth markets in the Middle East and Africa. In the first half to June it sold its shareholder loan in ATC Ghana to American Tower Corp for 900 million rand and its interests in investment fund Amadeus and booking website Travelstart for 1.2 billion rand, the firm said in a statement. It is also in the process of redeeming MTN Nigeria preferen
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