|
BNW |
|
B N W: Biafra Nigeria World News |
|
|
|
|
||||
|
|
|
|||||||||||||||||||||||||||||
|
MTN to raise Nigerian shareholding
LOCAL shareholder participation in MTN Nigeria may be broadened following a decision taken by the global system of mobile (GSM) communications group.
The decision was taken by the MTN Group in association with shareholders in its local arm in the country, according to Mrs. Joke Giwa, Chief Corporate Affairs Officer (CCO), MTN Nigeria in a statement last night.
"Over the next 12 months, substantial ground work will be done to explore various options to achieve this objective," she said.
"Alternatives under consideration may include a potential listing of MTN Nigeria within the next 12 months, subject to market conditions. No discussions/ negotiations have commenced with potential investors, which may lead to a transaction. Further announcement will follow as the process unfolds.
"This move reaffirms our commitment to sustainability and good corporate citizenship, which include local empowerment in all our operations, she added.
MTN Nigeria, which reported a subscriber base of 2,176,000 as at the end of June this year, continues to experience strong demand for its services and a key challenge for the operation lies in accelerating the network roll-out.
Several initiatives are already under way to enable MTN Nigeria meet customer demand, improve network quality and maintain brand and market leadership in an increasingly competitive environment. These initiative include the construction of MTN's own transmission backbone and power supply infrastructure both of which are critical to the roll out of quality GSM service, Mrs Giwa said.
|
|
||||||||||||
