South Africa's MTN agrees to divest $300 mln stake in Botswana's Mascom

03/08/2019 6:29:00 AM (GMT)

South African mobile telecommunications company MTN Group Ltd. agreed to divest its 53 percent stake in Botswana-based mobile phone service provider Mascom for $300 million.

MTN will sell the stake to peer Econet Wireless Zimbabwe Ltd., a subsidiary of South Africa's Econet Wireless Group, as part of a $1.1 billion disposal plan to shore up its balance sheet.

Other businesses now on the market include e-commerce services, the Nigerian online shopping platform Jumia Technologies AG. and South African online travel booking website Travelstart.co.za.

MTN Group is also seeking to divest its interest in Mauritius-based mobile telecommunications infrastructure company IHS Towers Ltd.

Econet Wireless Zimbabwe Ltd.

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