MTN Group plans to acquire the remaining stake in MTN Cyprus, making it a wholly-owned subsidiary.
The South Africa-headquartered telco already owns 50% of its Cypriot business and will buy the other 50% from local partner Amaracos Holdings, according…
MTN Group plans to acquire the remaining stake in MTN Cyprus, making it a wholly-owned subsidiary.
The South Africa-headquartered telco already owns 50% of its Cypriot business and will buy the other 50% from local partner Amaracos Holdings, according to an announcement today.
The acquisition, which is subject to regulatory approval, will be made through MTN’s Dubai subsidiary.
The deal is intended to consolidate MTN Group’s investments and accelerate its offerings to the Cypriot market, said the company statement.
“MTN Cyprus is well established within a market that has good potential for accessing innovation and knowledge sharing that can benefit the overall MTN group,” said MTN Group CEO Sifiso Dabengwa.
