MTN Group CEO Ralph Mupita earned almost R15-million less last year than he did in 2021, but still walked away with R69.3-million in remuneration.
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Ignore for a moment that Rain, although growing fast, is a relative pipsqueak next to Telkom. Does a merger make any sense? By Duncan McLeod.
The idea of a pan-African telecoms champion that has a large shareholding by the South African government looks likely to grease the political wheels of MTN’s audacious bid to buy Telkom.
MTN Group has entered into discussions to acquire Telkom. The talks are at an early stage, the parties said, and might not result in a deal.
MTN Group has appointed Tim Pennington, until recently chief financial officer of Millicom International Cellular, to its board of directors.
MTN Group CEO Ralph Mupita earned total remuneration in the 2021 financial year of R84.2-million – and he wasn’t the only top executive handsomely rewarded.
Telkom CEO Sipho Maseko was responding to questions about a news report which said MTN had made an approach to buy the company.
MTN Group recently expressed an interest in acquiring Telkom, Bloomberg News reported on Sunday, citing unnamed sources “familiar with the matter”.
Rob Shuter, the former president and CEO of MTN Group, received R68.1-million in remuneration, including R30.1-million in bonuses, in his final eight months at the emerging-markets telecommunications giant.
MTN Group has announced a R250-million “relief package” in response to the Covid-19 pandemic across the 21 markets in which it operates.