MTN planning sale of all or part of R4.2bn Jumia stake, says insider
05 August 2020 - 19:33
MTN is planning to sell part or all of its $243m (R4.2bn) interest in Jumia Technologies as Africa’s biggest wireless carrier looks to pay down debt and enter new markets, according to people familiar with the matter.
MTN, which had previously marked the online retailer as a noncore business, is reviving plans for a sale after Jumia’s shares surged 142% in 2020, recovering from a dip in 2019, one of the people said. No final decisions about the sale have been made, the people said, asking not to be identified because the plans are private...
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