SENS Note - 04 September 2018
MTN - sale transaction concluded
 
On 16 July 2018, MTN announced that its wholly owned subsidiary, MTN Dubai Ltd., had entered into an agreement in terms of which it had sold 100% of MTN Cyprus to Monaco Telecom S.A. The sale was part of an ongoing portfolio review by MTN.

Shareholders are advised that this transaction is now concluded for proceeds of R4.5 billion (EUR262 million), paid upfront in cash.

Proceeds from the sale will be used towards the settlement of USD denominated debt.

The Foreign exchange rate used as at close on 31 August 2018 was EUR1:ZAR 17.07.
 
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