MTN Group Looking To Sell Some Smaller West African Units

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MTN Ghana, Fined $773m Amidst Ghana's Economic Downturn
MTN Ghana, Fined $773m Amidst Ghana's Economic Downturn

MTN Group is reportedly exploring the sale of some of its smaller Western African business units.

Bloomberg says that a company source confirmed that the operator is conducting an internal review about divesting some of its Western African units.

According to the sources, MTN’s assets in Ghana and Nigeria, which represent two of its biggest markets, won’t be impacted.

However, it’s not known what will remain of South Africa-based MTN’s operations in other markets including Ivory Coast, Benin, Liberia, Guinea, and Guinea-Bissau.

The operator recently offloaded its Afghanistan subsidiary to a Beirut-based investment firm as part of the company’s plans to exit the Middle East.

MTN has also seen a lawsuit against the company dropped relating to the operator’s entry into the Iranian market back in 2005 when launching MTN Irancell.

The company was accused by Turkcell and East Asian Consortium (EAC) of alleged bribery and foul play as part of its efforts in securing a 49 percent stake in the company, which was Iran’s first privatized operator, at the expense of Turkcell. Turkcell is set to appeal the decision.