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MTN Group considers selling part of its stake in Nigeria

According to Mupita, the impact of the virus on international financial markets did not change the mobile network operator’s plans to sell part of its 79 per cent shareholding to local investors. (Image source: Ahmad Ardity/Pixabay)

MTN Group is considering selling part of its majority holding in its lucrative Nigerian arm despite the negative economic impact of COVID-19, according to Ralph Mupita, MTN Group financial officer

In an interview with Bloomberg, Mupita said that the impact of the virus on international financial markets did not change the mobile network operator’s plans to sell part of its 79 per cent shareholding to local investors.

“In Nigeria, we still want to do part of our retail offer, even if it’s a smaller part of the total planned sale,” commented Mupita.

“We are applying our minds to doing this at the moment,” Mupita commented.

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