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SENS Note - 24 July 2006
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| MTN further increases its shareholding in Uganda
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MTN shareholders are referred to the announcement on the 6th July where MTN announced the acquisition of 32.44% in MTN Uganda from Swedish telecom company, Overseas Telecom AB (which is 65% owned by TeliaSonera). MTN has further increased its shareholding in MTN Uganda and now owns 97.34% shareholding through the successful acquisition of all of Tri-Star Investments SARL's 12.89% stake in the operation for a cash only consideration of USD55 million. Tri-Star is a Rwanda-based investment holding company.
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