MTN
MTN
MTN - MTN Group Limited - MTN and BICS to combine their international carrier
services
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06
Share code: MTN
ISIN code: ZAE000042164
("MTN")
MTN and BICS to combine their international carrier services
Shareholders are advised that MTN announced today the extension of its
relationship with Belgacom International Carrier Services ("BICS") by
combining MTN ICS, its international carrier services business which generated
revenues of Euro 223,2 million in the year ended 31 December 2008, with the
business of BICS. Pursuant to the combination of the two businesses, MTN will
hold an equity interest of 20% in the enlarged BICS and appoint two directors
to the board. The combination is expected to improve the quality of the
international traffic carrier service offerings of MTN operations whilst
realising meaningful cost benefits.
The transaction is subject to certain conditions precedent including, to
the extent required, the approval of the relevant regulatory authorities.
Fairland
26 June 2009
Financial adviser to MTN
Deutsche Bank
Legal adviser to MTN
Freshfields
Sponsor to MTN
Deutsche Securities (SA) (Proprietary) Limited
Date: 26/06/2009 07:33:02 Produced by the JSE SENS Department.
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