MTN Group Limited - MTN announcement relating to C
MTN Group Limited - MTN announcement relating to Celtel International
B.V.(`Celtel`)
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(ISIN ZAE000042164)
(Share code MTN)
(`MTN`)
MTN announcement relating to Celtel International B.V.(`Celtel`)
On 18 April 2005, MTN announced that it had made an application in the English
High Court for an order for disclosure of documents and information, including
the irrevocable undertakings signed by Celtel shareholders in respect of an
offer by MTN and the terms on which such undertakings were held, from Celtel and
Dr Mohamed Ibrahim, Celtel`s chairman and largest shareholder.
On 22 April 2005, MTN announced that the Court had ordered Celtel and Dr Ibrahim
to disclose to MTN certain documents and information and that MTN would be
reviewing such documents and information to determine what further action, if
any, to take.
Further to the recent press speculation, MTN shareholders are advised that MTN
has not finally decided on any course of action regarding the dealings between
MTN and Celtel and Dr Ibrahim. MTN has reserved its rights to claim damages
against Celtel and/or Dr Ibrahim.
There can be no assurance as to the outcomes of any actions that MTN may decide
to take. Accordingly, shareholders are advised to exercise caution when dealing
in MTN securities until a further announcement is made.
Johannesburg
9 May 2005
Transaction and lead sponsor
Morgan Stanley South Africa (Proprietary) Limited
Joint sponsorMerrill Lynch South Africa
Date: 09/05/2005 02:11:35 PM
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