MTN’s Phuthuma Nhleko ditches his shares as he prepares to leave

MTN Group’s executive chairman Phuthuma Nhleko sold shares worth about R123m as he prepares to hand over the day-to-day running of Africa’s biggest wireless company to incoming CEO Rob Shuter. Nhleko will also benefit from the termination of share options valued at R130m, he said after the market closed on Wednesday. He will return to his previous role as nonexecutive chairman when Shuter joins from Vodafone Group on March 17.

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