MTN Group acquired 51% stake in mobile network operator in Cote d`Ivoire
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
Share code: MTN
ISIN ZAE000042164
(`MTN Group`)
MTN Group acquired 51% stake in mobile network operator in Cote d`Ivoire
Reference is made to the press release of 22 June 2005.
MTN Group is pleased to announce that all the conditions precedent for the
acquisition of a 51% interest in Loteny Telecom, trading under the name of
Telecel Cote d`Ivoire in the Republic of Cote d`Ivoire, have been fulfilled. The
acquisition is effective 1 July 2005 on which date MTN Group, via a subsidiary,
assumes control of the operation. The operation has in excess of 800 000
subscribers and a market share in excess of 46%.
This acquisition is in line with MTN Group`s vision to become the leading
telecoms operator in emerging markets and its geographic and strategic footprint
in West Africa has now been expanded and consolidated.
Fairland
5 July 2005
Sponsor: Merrill Lynch
Date: 05/07/2005 04:00:26 PM
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