Investment bankers circle MTN as woes hammer its share price
With MTN's share price plunging 55% from its peak on rising regulatory burdens, difficult operating environments in places such as Syria
With MTN's share price plunging 55% from its peak on rising regulatory burdens, difficult operating environments in places such as Syria and ever-increasing competition in its domestic market, industry insiders are touting the prospects of corporate activity around the mobile operator that is Africa's biggest. Investment bankers are said to be circling the group chaired by Phuthuma Nhleko as both a potential takeover target by an international player and an acquirer itself. Africa remains one of the few growth spots in an increasingly maturing mobile market. "Consolidation in this market is a logical and value-adding move for the sector," a company insider said this week, cautioning that in the markets in which it operates the group faced a challenge in getting the approval of competition authorities. The insider said the company, which operates in 22 countries across the continent and in the Middle East, has attracted interest from investment bankers, although no firm offer was tab...
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