TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Moves afoot to fix Eskom’s debt problem

      4 July 2022

      Audi South Africa to offer free connectivity upgrades

      4 July 2022

      Shock fuel price increase announced

      4 July 2022

      Wiocc’s data centre business, OADC, appoints CEO

      4 July 2022

      Google’s Equiano cable lands in Namibia

      3 July 2022
    • World

      Tether fails to calm jittery nerves

      4 July 2022

      EU to impose wide-ranging new rules on the crypto industry

      3 July 2022

      Crypto hedge fund Three Arrows files for bankruptcy

      3 July 2022

      Meta girds for ‘fierce’ headwinds

      1 July 2022

      Graphics card prices plummet as crypto demand dries up

      30 June 2022
    • In-depth

      The NFT party is over

      30 June 2022

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022

      Everything Apple announced at WWDC – in less than 500 words

      7 June 2022
    • Podcasts

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022

      Everything PC S01E04 – ‘The story of Intel – part 2’

      1 June 2022
    • Opinion

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Fintech»MTN hires JPMorgan to help it separate fintech unit

    MTN hires JPMorgan to help it separate fintech unit

    Fintech By Agency Staff5 April 2022
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    MTN Group is working with advisers at JPMorgan Chase & Co on the planned separation of its financial technology business, people with knowledge of the matter said.

    The carrier said last month it aims to complete a carve-out of the business by the end of the first half before seeking funds from outside investors later in the year. Last year, Nedbank Group estimated the fintech arm could be worth about US$6-billion (R88-billion).

    MTN is studying a variety of potential deals, including bringing in partners for some of its businesses as well as possibly listing certain units in the future, to unlock value and pay down debt. The carrier is also exploring options for its data centre business, the people said, asking not to be identified because the information is private.

    The telecoms operator is separately working with FTI Consulting to find ways to boost revenues from its wholesale business and roaming agreements across the markets where it operates, one of the people said.

    Shares of MTN have roughly doubled in Johannesburg over the past 12 months, giving the company a valuation of about R355-billion. Deliberations are ongoing, and there’s no certainty they will lead to any transactions, the people said.

    Spokespeople for MTN, JPMorgan and FTI declined to comment.

    MTN said in 2020 it targets to raise R25-billion from asset disposals over the medium term. It agreed in November to sell a portfolio of wireless towers in South Africa for R6.4-billion rand. MTN also has a stake in New York-listed tower owner IHS Holding that it could sell down.  — Archana Narayanan and Loni Prinsloo, (c) 2022 Bloomberg LP

    FTI Consulting IHS Holding JPMorgan MTN
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleAmazon secures 83 rocket launches as it races Musk’s Starlink to space
    Next Article Roelof Botha to lead Sequoia Capital

    Related Posts

    The MSP value proposition has evolved – here’s why it matters

    4 July 2022

    Moves afoot to fix Eskom’s debt problem

    4 July 2022

    Audi South Africa to offer free connectivity upgrades

    4 July 2022
    Add A Comment

    Comments are closed.

    Promoted

    The MSP value proposition has evolved – here’s why it matters

    4 July 2022

    Presenting the cloud finance in South Africa survey with AWCape and Sage

    4 July 2022

    The Equiano cable has landed

    4 July 2022
    Opinion

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.