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    MTNN   NGMTNN000002

MTN NIGERIA COMMUNICATIONS PLC

(MTNN)
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Mdundo Announces Partnership with MTN Nigeria, Targeting 70 Million Additional Customers with Mdundo Bundles

08/27/2021 | 03:21am EDT

Mdundo announced a new telecommunication partnership in Africa with MTN Nigeria targeting its customer base of over 70 million subscribers. The partnership is the third telecommunication partnership in Africa since the beginning of 2021. Mdundo has introduced telco partnerships as a central part of its monetization initiatives in 2020 and expect this stream to account for 40% of the company's revenue within a few years. Telecommunication partnerships across Africa is an important part of Mdundo's growth and monetisation strategy. The agreement with MTN Nigeria is the third telecommunication partnership agreement announced in 2021. As a result of these partnerships, the Mdundo music bundles are now available to a total of 125 million customers within Nigeria and Tanzania.


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Financials
Sales 2021 1 582 B 3 860 M 3 860 M
Net income 2021 282 B 689 M 689 M
Net Debt 2021 550 B 1 342 M 1 342 M
P/E ratio 2021 12,9x
Yield 2021 6,46%
Capitalization 3 458 B 8 416 M 8 438 M
EV / Sales 2021 2,53x
EV / Sales 2022 2,11x
Nbr of Employees 1 844
Free-Float 100%
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Mean consensus BUY
Number of Analysts 6
Last Close Price 174,90 NGN
Average target price 217,42 NGN
Spread / Average Target 24,3%
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Managers and Directors
Karl Olutokun Toriola Chief Executive Officer & Director
Modupe Agbolade Kadri Chief Financial Officer & Executive Director
Ernest Chukwuka-Anene Ndukwe Executive Chairman
Mohammed Rufai Chief Technical Officer
Randy Bikraj Chief Information Officer
Sector and Competitors