MTN Group’s unit in Ghana has sought review from the supreme court after a high court this week dismissed its challenge to a move by the regulator aimed at exposing it to greater competition.
Browsing: MTN Ghana
A high court in Ghana has dismissed the local MTN Group unit’s challenge to a move by the national telecoms regulator aimed at exposing it to greater competition.
Ghana will implement a set of policies to reduce the dominance of MTN in the country’s telecommunications market, the government has said in a statement.
It’s not MTN’s biggest operation, but Ghana is nonetheless an important market for the group. And the latest results from the West African subsidiary are likely to cheer investors.
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.
Accra’s share market was poised for a massive boost in liquidity on Wednesday when shares started trading in MTN Group’s local unit.
MTN Group’s unit in Ghana raised 1.1-billion cedis (R3.5-billion) selling about a third of the shares the wireless carrier made available in an initial public offering.
MTN Group is facing pressure to list its unit in Uganda as Africa’s largest mobile phone company seeks to renew a licence in the country.
MTN has kick-started the process of listing shares on the Ghana Stock Exchange. The telecommunications group said in a statement on Tuesday that MTN Ghana has launched an initial public offering, which will be
A record wave of stock is heading for Ghana’s market as MTN Group is said to prepare to sell a chunk of its local unit to investors for about $790m (R9.2bn). The shares should be snapped up, the country’s