As it was announcing its results for the first quarter of 2023, MTN said it was considering an offer from Madagascar conglomerate Axian to acquire the South African group’s subsidiaries in Guinea, Guinea-Bissau and Liberia.
“The agreement has not been finalised and there is no guarantee that the transaction will take place,” says US news agency Bloomberg.
The head of Axian, Hassanein Hiridjee, told us he did not wish to comment “beyond what has been written [by MTN]”. Two experts in the sector, well aware of the movements of mergers and acquisitions, say they have no information on these negotiations, which are being conducted in strict confidence.
Withdrawal from the Middle East
MTN operates in 18 countries, 17 of which are in Africa. The group has been implementing its new ‘Ambition 2025’ strategy for the past three years, reviewing its portfolio to focus on its most dynamic markets
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
cancel anytime
Already a a subscriber Sign In
