MTN Group is making “great progress” with Nigerian authorities in talks about US$10.1-billion in claims, encouraging Africa’s largest wireless carrier that it can settle the long-running dispute out of court.
Author Loni Prinsloo
Vodacom Group shares fell after the wireless carrier with the most South African customers reported slower revenue growth in its domestic market, as a sluggish economy hurt consumer spending.
South African telecommunications tower company Atlas Tower is in talks to bring in partners from the country’s black majority to help it expand at home and enter new markets, according to sources.
Econet Wireless Zimbabwe plans to list its financial units as a single entity on the country’s stock exchange and sell a majority stake in network operator Liquid Telecom Zimbabwe back to the firm’s parent company.
Former Vodacom Group executive Romeo Kumalo has started a tech-focused South African investment firm and aims to raise as much as R2.9-billion in an initial public offering next year, sources say.
MTN Group has boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.
Helios Towers wants to enter South Africa within the next year, helping the mobile phone tower operator build scale as it prepares for a stock market listing as early as 2019.
Nigeria’s central bank governor will meet with MTN Group and four banks to negotiate a dispute over $8.1-billion the bank says was transferred illegally out of the country, sources said.
Stephen Van Coller, EOH Holdings’ new CEO, said he will use a R1-billion cash injection from a stake sale to black investors to pay for acquisitions and decrease the group’s bank debt.