Mastercard has agreed to take a minority stake in the financial-technology business of MTN Group, the largest wireless carrier in Africa, which the latter values at $5.2bn. Shares in MTN rose as much as 10%, following the announcement. The deal will be structured in two parts: a commercial agreement to use Mastercard s technology infrastructure to develop MTN s offerings and the investment into a minority stake.
Mastercard to Buy Stake in MTN s $5 2B Fintech Unit themiddlemarket.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themiddlemarket.com Daily Mail and Mail on Sunday newspapers.
As loss-making Telkom continues to hunt for strategic investors, analysts warn of the execution risks of turning around the telco’s operational performance.
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