MTN Group
From Wikipedia, the free encyclopedia
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| Type | Private |
|---|---|
| Founded | 1994 |
| Headquarters | South Africa |
| Key people | Phuthuma Nhleko, CEO |
| Industry | Telecommunications |
| Products | GSM-related products Internet services |
| Website | www.mtn.com |
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MTN Group is a South Africa-based multinational mobile telecommunications company, operating in many African and Middle Eastern countries.
MTN describes itself as "the leader in telecommunications in Africa and the Middle East" and as of early 2007 is active in 21 countries.[1][2] (Since 2004, Africa has been the fastest growing mobile phone market in the world.[3][4][5])
MTN Group's President and CEO is Phuthuma Nhleko. The company sponsors the CAF Champions League football competition.
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[edit] Coverage
MTN acquired Investcom, thereby expanding to ten more countries, mainly under the Areeba and Spacetel brands.[6]
As of early 2007, MTN is active in:
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MTN is also expanding its operations to Pakistan. MTN bought Investcom back in 2003 and has expanded noticeably in the Middle East.
[edit] Business
MTN's competition in South Africa includes the company Vodacom.
[edit] Talks with Bharti Airtel and Reliance Communications
In May 2008, it emerged that Bharti Airtel, an India-based telecommunications company, was exploring the possibility of buying MTN Group. The Financial Times reported that Bharti was considering offering US$19 billion for a 51% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm. The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues, higher profits and broader geographic coverage.[7]
However, talks fell through after a few days and Bharti Airtel pulled out of the proposed deal on May 24. Two days later, it was reported that another Indian telecommunications company, Reliance Communications is in talks with MTN for a "potential combination of their businesses." If realized, the estimated worth of the combined entity would have been $70 billion (£35 billion), with 116 million subscribers worldwide. [8][9]
However, on July 18, the two companies announced that they had mutually decided to end discussions regarding the merger.
[edit] International Carrier Services
June 26, 2009, MTN Group participated in Belgacom International Carrier Services (BICS), a subsidiary of Belgacom, by merging it with its own subsidiary, MTN ICS. BICS will function as official international gateway for all international carrier services of Belgacom, Swisscom and MTN group. These companies respectively hold 57.6 %, 22.4 % and 20.0 % of the shares of the company.
[edit] References
- ^ TV advertisement repeatedly shown on Al Jazeera English in January 2007 included the above quote and the statement "now in 21 countries".
- ^ http://www.mtn.com/mtn.group.web/explore/CEO/CEO.asp MTN website
- ^ BBC NEWS | World | Africa | Africans rush for mobile phones
- ^ BBC NEWS | Business | Mobile growth 'fastest in Africa'
- ^ Phone revolution makes Africa upwardly mobile - Times Online
- ^ http://www.investcomllc.com/mobile.aspx Investcom - mobile communications division
- ^ "Emerging-market telecoms: Eyes on Africa", The Economist, 6 May 2008
- ^ Exit Bharti, Enter Reliance in MTN Tango - Businessweek
- ^ India's Reliance Communications plans merger with MTN - The Times Online
[edit] External links
- MTN Group
- MTN Congo
- MTN Cyprus
- MTN Cameroon
- MTN Irancell
- MTN Nigeria
- MTN Rwanda
- MTN South Africa
- MTN Swaziland
- MTN Syria
- MTN Uganda
- MTN Football
- MTN Yemen (Previously, Spacetel)
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