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S.Africa’s MTN plans to offload shares in Nigeria business via public offer -Breaking

by Mike Robinson

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© Reuters.

(Reuters] – MTN Group intends to launch a public sale to purchase up to 575million shares in Nigerian businesses, South African telecoms operator MTN Group announced on Thursday. The announcement came after reporting a rise in core profit and revenue for the third quarter.

According to the company, the offering will begin in this month and will include a bookbuild for institutional investors. After that, a fixed price will go out for retail investors.

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