MTN - MTN Group - Broadening Of The Nigerian Shareholder Base Of MTN Nigeria
MTN
MTN
MTN - MTN Group - Broadening Of The Nigerian Shareholder Base Of MTN Nigeria
Communications Limited ("MTN Nigeria")
MTN GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/009584/06)
Share code: MTN
ISIN: ZAE000042164
("MTN")
BROADENING OF THE NIGERIAN SHAREHOLDER BASE OF MTN NIGERIA COMMUNICATIONS
LIMITED ("MTN NIGERIA")
Nigerian individuals and key institutions have acquired a 9.45% interest in MTN
Nigeria from MTN, acting through its wholly-owned subsidiary, MTN International
(Mauritius) Limited, and other shareholders in MTN Nigeria, pursuant to a
private placement.
The main rationale for the transaction is to achieve MTN`s stated intention of
broadening the ownership of MTN Nigeria among Nigerian citizens and institutions
and to reaffirm MTN`s commitment of enabling greater Nigerian representation in
MTN Nigeria.
MTN disposed of an overall equity interest of 5.96% in MTN Nigeria as part of
the private placement for a consideration of US$ 594.50 million, thereby
reducing its interest in MTN Nigeria to 76.08%.
The allocation date for the private placement was 8 February 2008 and share
transfers are anticipated to be effected on 18 February 2008.
11 February 2008
Fairlands
Sponsor
Merrill Lynch
Date: 11/02/2008 15:48:58 Produced by the JSE SENS Department.
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