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MTN reduces Nigerian stake

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MTN has reduced its stake in MTN Nigeria, including equity interest of $594,5-million, reducing its shareholding in the company to 76,08%. 

Nigerian individuals and key institutions have acquired a 9,45% interest in MTN Nigeria, pursuant to a private placement.
According to a statement from MTN, the main rationale for the transaction is to achieve the company`s stated intention of  broadening the ownership of MTN Nigeria among Nigerian citizens and institutions and to reaffirm MTN`s commitment of enabling greater Nigerian representation in MTN Nigeria.