MTN Group
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| Type | Public |
|---|---|
| Industry | Telecommunications |
| Founded | 1994 |
| Headquarters | Johannesburg, South Africa |
| Key people | RS Dabengwa, Group president and CEO |
| Products | GSM-related products Internet services |
| Revenue |  US$ 17.3 billion (2010) |
| Operating income | US$ 4.6 billion (2010) |
| Net income | US$ 2.5 billion (2010) |
| Total assets | US$ 23.4 billion (2010) |
| Total equity | US$ 10.1 billion (2010) |
| Employees | 17,509 (2010) |
| Website | mtn.com |
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Wikimedia Commons has media related to: MTN Group |
MTN Group is a South Africa-based multinational mobile telecommunications company, operating in many African and Middle Eastern countries. Its head office is in Johannesburg.[1]
MTN Group's President and CEO is RS Dabengwa (from 1 April 2011).[2] The company sponsored the CAF Champions League football competition as well as APOEL F.C., winners of the Cypriot First Division in 2009 and participants in the 2009–10 UEFA Champions League.
On 18 March 2010, it was announced that MTN signed a sponsorship deal with English football Giants Manchester United F.C.[3]
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[edit] Coverage
MTN acquired Investcom, thereby expanding to ten more countries, mainly under the Areeba and Spacetel brands.[4]
As of early 2007, MTN is active in:
- Afghanistan (Investcom)
- Benin (Investcom)
- Botswana (Botswana Mascom)
- Cameroon (MTN Cameroon)
- Republic of Congo (MTN Congo SA)
- Cote d'Ivoire (MTN Cote d'Ivoire)
- Cyprus (MTN Cyprus)
- Ghana (Investcom, MTN Ghana)
- Guinea Bissau (Investcom)
- Republic of Guinea (Investcom)
- Iran (MTN Irancell)
- Liberia (Lonestar Cell)
- Montenegro (MTN CG) [planned 2011]
- Nigeria (MTN Nigeria)
- Rwanda (MTN Rwanda)
- South Africa (MTN South Africa)
- Sudan (Investcom)
- Swaziland (MTN Swaziland)
- Syria (Investcom)
- Uganda (MTN Uganda)
- Yemen (Investcom, Spacetel)
- Zambia (MTN Zambia)
[edit] Business
MTN's competition in South Africa includes Vodacom, Cell C, Virgin Mobile and 8ta.
[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.
Talks fell through after a few days and Bharti Airtel pulled out of the proposed deal on 24 May. 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.[5][6]
On 18 July, the two companies announced that they had mutually decided to end discussions regarding the merger.
[edit] International Carrier Services
On 26 June 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] See also
[edit] References
- ^ Home. MTN Group. Retrieved on 15 August 2011. "HEAD OFFICE SOUTH AFRICA" "14th Avenue Johannesburg 2196 South Africa"
- ^ MTN Group management
- ^ Goal.com
- ^ Investcom – mobile communications division
- ^ Exit Bharti, Enter Reliance in MTN Tango – Businessweek
- ^ India's Reliance Communications plans merger with MTN – The Times Online
[edit] External links
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