{"id":269215,"date":"2018-09-04T09:06:19","date_gmt":"2018-09-04T07:06:19","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=269215"},"modified":"2018-09-04T09:06:19","modified_gmt":"2018-09-04T07:06:19","slug":"mtn-concludes-r4-5-billion-cyprus-sale","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/269215\/mtn-concludes-r4-5-billion-cyprus-sale\/","title":{"rendered":"MTN concludes R4.5 billion Cyprus sale"},"content":{"rendered":"

MTN has received R4.5 billion ($262 million) from the sale of MTN Cyprus to\u00a0Monaco Telecom.<\/p>\n

MTN announced on 16 July 2018 that its wholly owned subsidiary, MTN Dubai Limited, had entered into an agreement in terms of which it had sold 100% of MTN Cyprus to Monaco Telecom S.A.<\/p>\n

The sale was part of an ongoing portfolio review by MTN Group, it said. It has now concluded.<\/p>\n

MTN Cyprus, which was the group’s only business in the European Union, was acquired as part of the acquisition of telecoms holding company Investcom LLC in 2006.<\/p>\n

The reason for the sale was because the company fell outside MTN’s core footprint in Africa and the Middle East.<\/p>\n

Proceeds from the sale will be used towards the settlement of US$ denominated debt, MTN said.<\/p>\n

\n

Read:\u00a0MTN may get naira refund by paying $8.1 billion Nigeria demands<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

MTN has received R4.5 billion ($262 million) from the sale of MTN Cyprus to\u00a0Monaco Telecom.<\/p>\n","protected":false},"author":10,"featured_media":214971,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[28],"class_list":["post-269215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-mtn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/269215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=269215"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/269215\/revisions"}],"predecessor-version":[{"id":269217,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/269215\/revisions\/269217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/214971"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=269215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=269215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=269215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}