Clashes with regulators in
MTN said it had agreed to sell its 49 per cent holdings in
The sale is expected to close in Q1 2020, leaving MTN with a profit of
The company also said it had finalised the redemption of MTN Nigeria preference shares, raising
MTN said it will use the proceeds to pay down its
'We remain focused on continuing to execute on the important strategic priorities of reducing debt, simplifying the portfolio and reducing risk,'' the firm said in a statement.
The company is aiming to shed loss-making e-commerce assets and exit countries where it has no prospect of reaching the top-two spots in terms of market share.
© Pakistan Press International, source