MTN Spins Off 2 Fintech Units for Up to 30% Minority Stakes
Updated
Updated · Bloomberg · Jun 10
MTN Spins Off 2 Fintech Units for Up to 30% Minority Stakes
2 articles · Updated · Bloomberg · Jun 10
Summary
MTN is finalizing the separation of its Nigerian and Ugandan fintech operations, carving out two key businesses inside its mobile-money arm.
The reorganization is designed to let strategic investors including Mastercard buy minority holdings, with MTN saying it is open to selling as much as 30%.
CEO Ralph Mupita said the separations are complex because MTN is trying to minimize value leakage during the carve-outs.
MTN also signaled it is not working to an IPO timetable, pointing instead to private strategic stake sales as the near-term route for its fintech unit.