MTN plans FPO to sell 14% of Nigerian stake

MTN Group Ltd is preparing an Future Public Offering (FPO) which will see it raise up to N340 billion from domestic investors as it seeks to sell down its Nigerian stake. Nigerian investors currently own about 19.4 percent of MTN Nigeria, while 78.8 percent is owned by South Africa’s MTN Group. MTN said on Thursday…

This news was culled from Business Day

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