MTN's Dubai subsidiary sells MTN Cyprus for USD304mn
South Africa-based mobile telecommunication company MTN Group Ltd said Monday that its Dubai subsidiary sold its Cyprus business to Monaco Telecom SA for USD304mn. Africa’s biggest mobile telecom group said that as part of the deal to sell MTN Cyprus, it would allow the use of the MTN brand in Cyprus for up to three years for a fee. MTN Cyprus, which is the South African company’s only business in the European Union, was acquired as part of the acquisition of telecoms holding company Investcom LLC in 2006. Johannesburg-listed MTN, which has businesses in 24 countries in Africa and the Middle East, is expanding in the continent and is planning to launch a mobile service in Namibia in August.
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.