South Africa's MTN Group has revealed that it could spend up to US$8 billion on acquisitions and is currently looking for potential targets in the Middle East and Southeast Asia.
The company is already one of the companies shortlisted to bid for a license in Myanmar.
Sifiso Dabengwa, company's CEO, told the Reuters Africa Investment Summit that "Growth through M&A is still an important part of our strategy," adding that deals in the region of US$4-8 billion is something the company could look at.
The company currently has a market capitalisation of US$34 billion.
However, the company is facing a multi-billion lawsuit over how it acquired its operating license in Iran, and may have to sell up if US sanctions are intensified.
Previous attempts to merge with India's Bharti Airtel were blocked by South African government.
MTN Group Looking at $8Bn Foreign Acquisitions
cwadmin15 Apr 20130 Comments
South Africa's MTN Group has revealed that it could spend up to US$8 billion on acquisitions and is currently looking for potential targets in the Middle East and Southeast Asia. The company is…
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cwadmin
Trained and practicing journalist passionate about telecommunications, fintech, cybersecurity, and digital economy reporting.
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