MTN sells stake in Amadeus fund and Travelstart for R1.2bn

 In news

MTN says it will raise R1.2bn by selling its interests in investment fund Amadeus and online travel platform Travelstart.

The mobile operator said in March it planned to raise R15bn through asset sales over three years. It said on Tuesday it would sell its interests in Amadeus and Travelstart to HarbourVest, a global private equity firm.

The transaction was expected to close within the next three months. MTN would maintain its commercial relationship with Travelstart after the sale, it said.

MTN’s shares were 0.2% down at R99.32 in early trade on Tuesday. The stock fell 0.8% on Monday after the group announced that Nigerian authorities were investigating its listing in that market. Source: BD Live

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search