MTN Group has decided to pull the plug on its operation in war-torn Syria after it lost control of the business. It has booked a loss of R4.7-billion on the “deconsolidation” of the subsidiary.
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MTN Group is set to complete the sale and leaseback of South African towers by the end of next month, while a separation of both the fintech and fibre units is also under way.
MTN Group doesn’t want to play second fiddle to other operators in Ethiopia, prompting its decision not to bid when the East African country tenders a second telecommunications licence soon.
MTN South Africa has turned in a resilient financial performance in the first six months of the financial year to June, with both margin expansion and strong sales growth during the period.
MTN South Africa has cut data prices with a 30-day validity, in some instances by as much as 60%. The headline price for 1GB of ad hoc data is now R85, from R99 previously, matching rival Vodacom’s pricing.
Safaricom’s rally to a record has made Kenya’s biggest company overvalued, with analysts forecasting a 10% drop in the next 12 months.
Huawei saw its revenue drop by almost a third in the first half of 2021, with US sanctions hobbling its once-dominant handset business and new business areas still in their early stages.
As Sipho Maseko begins his orderly and well-telegraphed exit from the Telkom CEO position, a first quarter financial update from the telecommunications provider contains a few more worrying signs.
Ethiopia’s revived plan to sell a second telecoms licence to international operators received an early setback as MTN Group isn’t likely to resubmit a bid, according to people familiar with the matter.
Telkom CEO-designate Serame Taukobong believes the company’s investments in a range of areas will stand it in good stead in the coming years.