The South African MTN group announced on Thursday, March 7, 2019, the launch of a billion-dollar disinvestment program over the next three years, to consolidate its leading position on the continent.
South African Telecoms Group (MTN) Chairman and CEO Rob Shuter also said a recovery plan was planned to eliminate the loss-making e-commerce assets and withdraw from countries where the group did not has no prospect of ranking second by its market share.
“As part of this review, MTN agreed to sell its minority stake in Mascom, Botswana, for $ 300 million. The group sold its only European unit in Cyprus last year, “said Shuter.
It should be noted that for the year ended December 31, 2018, MTN achieved an 85% increase in earnings per share, the main profit indicator in South Africa, at 337 cents. At that date, the group had 233 million subscribers, an increase of 16 million subscribers compared to the end of 2017.