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MTN denies Vodafone bid for a stake
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“We have had no contact,” a Vodafone spokesperson told Reuters.
South Africa’s Sunday Times reported at the weekend that Vodafone, the world’s largest mobile phone company by revenue, engaged MTN in pursuit of a multi-billion rand share after the government blocked it from purchasing a controlling stake in rival local phone operator Vodacom.
MTN also quashed rumours that Vodafone is to buy a stake in the company. MTN shares had jumped over 4 percent in Johannesburg’s stock exchange earlier on the report that Vodafone was seeking a stake.
MTN Group confirmed Tuesday that there was no basis for such speculations.
Analysts said the rumours of possible talks were not in line with MTN’s aggressive acquisition spree in emerging markets.
MTN unveiled a 17 percent rise in 2007’s adjusted headline earnings per share last week and said it would boost its subscribers by a third this year as a foray into Iran pays off.
MTN also said its customer base swelled by 53 percent to 61.4 million last year, helped by a strong performance in Iran, and forecast an extra 21.8 million subscribers in 2008.
The company is seeking to accelerate growth in its core European markets with greater exposure to faster-growing emerging markets.
Already, Nigeria has surpassed South Africa in terms of the number of subscribers.
In 2007, to end December Nigeria had 16.5 million subscribers. MTN anticipated this could increase by another 5 million this year.
South Africa’s Sunday Times reported at the weekend that Vodafone, the world’s largest mobile phone company by revenue, engaged MTN in pursuit of a multi-billion rand share after the government blocked it from purchasing a controlling stake in rival local phone operator Vodacom.
MTN also quashed rumours that Vodafone is to buy a stake in the company. MTN shares had jumped over 4 percent in Johannesburg’s stock exchange earlier on the report that Vodafone was seeking a stake.
MTN Group confirmed Tuesday that there was no basis for such speculations.
Analysts said the rumours of possible talks were not in line with MTN’s aggressive acquisition spree in emerging markets.
MTN unveiled a 17 percent rise in 2007’s adjusted headline earnings per share last week and said it would boost its subscribers by a third this year as a foray into Iran pays off.
MTN also said its customer base swelled by 53 percent to 61.4 million last year, helped by a strong performance in Iran, and forecast an extra 21.8 million subscribers in 2008.
The company is seeking to accelerate growth in its core European markets with greater exposure to faster-growing emerging markets.
Already, Nigeria has surpassed South Africa in terms of the number of subscribers.
In 2007, to end December Nigeria had 16.5 million subscribers. MTN anticipated this could increase by another 5 million this year.
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