MTN Group Limited - Acquisition of a stake in a Botswana mobile operator
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06)
Share code: MTN
ISIN ZAE000042164
("MTN")
Acquisition of a stake in a Botswana mobile operator
Shareholders are advised that MTN has acquired an effective indirect interest of
44% in Mascom Wireless Botswana (Proprietary) Limited ("Mascom"), a company
incorporated and registered in Botswana.
Mascom is the leading mobile operator in Botswana with a market share of over
70% and a subscriber base in excess of 440,000.
The indirect equity interest in Mascom was acquired for an aggregate
consideration of approximately US$128 million (based on an average exchange rate
of approximately BWP5.5 = US$1), implying an average valuation of US$300 million
(BWP1, 650 million) for 100% of the equity in Mascom.
This transaction forms part of MTN"s stated strategy to be the leading mobile
operator in developing markets.
The above transaction has been effected with the full co-operation of the Econet
Wireless Group, an existing indirect shareholder in Mascom.
This announcement is not related to the cautionary announcement released on SENS
on 20 October 2005.
Fairland
10 November 2005
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 10/11/2005 04:48:45 PM Produced by the JSE SENS Department
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