MTN Group has exited its investment in Yemen. Its departure from the troubled country is line with its strategy to leave the Middle East and focus on its investments in Africa.
Browsing: MTN Syria
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.
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 remains committed to negotiating a $65-million sale of its 75% stake in its Syrian unit, despite the business being placed under judicial guardianship last week.