MTN - MTN increases its stake in its operations in
MTN
MTN
MTN - MTN increases its stake in its operations in Cote D"ivoire and Uganda
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06)
Share code: MTN
ISIN ZAE000042164
("MTN")
MTN INCREASES ITS STAKE IN ITS OPERATIONS IN COTE D"IVOIRE AND UGANDA
MTN is pleased to announce that it has increased its shareholding in MTN Cote
d"Ivoire and MTN Uganda effective 1 May and 6 July respectively, further
consolidating its position in the respective regions.
The acquisition of 32.44% in MTN Uganda from Swedish telecom company, Overseas
Telecom AB (which is 65% owned by TeliaSonera) for Euro130 million was
successfully concluded today and will take MTN"s holding in MTN Uganda to 84.45%
from 52.01%. As a result of this acquisition, MTN Uganda will be fully
consolidated as a subsidiary of MTN and will no longer be treated as a joint
venture.
MTN increased its stake in MTN Cote d"Ivoire, previously Loteny Telecom, by
17.34% to 68.34% through a purchase of this stake from Atlantique Telecom for
Euro42.75 million.
Fairland
6 July 2006
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 06/07/2006 05:09:09 PM Produced by the JSE SENS Department
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