MTN Sells 75% Stake in Areeba Guinea to Telecel Group Amid Portfolio Optimization

MTN Group Limited (“MTN”) has confirmed that its wholly owned subsidiary MTN Dubai Limited has entered into an agreement for the sale of its 75% shareholding in Areeba Guinea S.A. to Telecel Group. The sale remains in line with MTN’s portfolio optimisation focus within its Ambition 2025 strategy.

The sale has not reached completion and remains subject to conditions precedent being satisfactorily met, including the receipt of regulatory and other approvals from the relevant authorities in Guinea.

MTN expressed that they will continue to work and cooperate with the relevant regulatory authorities, to ensure that all the appropriate requirements for transactions of this nature are addressed.

MTN expressed that they wish to reassure its customers in Guinea that the ongoing transaction will not affect the services offered to them.