Sifiso Dabengwa, the CEO of South African telco MTN Group, was quoted saying that his company could spend between US$4bn and US$8bn on an acquisition.
Speaking during Reuters Africa Investment Summit, he reportedly added that MTN would explore…
Sifiso Dabengwa, the CEO of South African telco MTN Group, was quoted saying that his company could spend between US$4bn and US$8bn on an acquisition.
Speaking during Reuters Africa Investment Summit, he reportedly added that MTN would explore opportunities in Africa, in particular North Africa, but also in the Middle East and Southeast Asia.
This comes as the Dubai subsidiary of the company has just been shortlisted to take part in Myanmar’s auction process for two 15-year mobile licences. Along with another 11 companies, MTN Dubai will have to wait until 27 June to know whether it has been awarded a licence.
MTN, which already operates in 21 countries in Africa and the Middle East, has recently been selling some tower assets as part of its outsourcing strategy to cut costs. Meanwhile, the company is looking to acquire the 50% remaining stake it does not own in MTN Cyprus in a move to consolidate the group’s investments.
MTN did not respond to requests for comment before the press deadline.
