MTN Group increases shareholding in Uganda and Cote d’Ivoire operations

The MTN Group is pleased to announce that it has increased its shareholding in MTN Uganda to 84.44% from 52.01%, converting the joint venture operation into a fully consolidated subsidiary of the Group. This follows the successful acquisition of a 32.44% stake purchased from Swedish telecom giant, Overseas Telecom AB for €130 million. Overseas Telecom AB is 65%-owned by TeliaSonera.