MTN sells Cypriot unit for €260m

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MTN sells Cypriot unit for €260m
 © BusinessMail 2021
By Stelios Orphanides

South Africa’s telecom MTN Group sold its operations in Cyprus to Monaco Telecom S.A. for a total of €260m, Reuters reported on Monday.

The South African company said that it will allow the Monegasque company to use its brand for a three-year period for a fee, Reuters reported.

According to official figures, MTN which entered the Cypriot market 11 years ago after acquiring the operations of Areeba saw its market share in mobile telephony increase to more than 35 per cent in December last year from 23 per cent in December 2010 at the expense of state-owned telecom Cyta...


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Article automatically added to our system on Monday, July 16, 2018

MTN sells Cypriot unit for €260m


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Article Tags: #sells   #cypriot  


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