South Africa's MTN to exit Middle East over medium-term
JOHANNESBURG, Aug 6 (Reuters) - South African mobile operator MTN Group MTNJ.J said on Thursday it will be exiting the Middle East over the medium term, starting with the sale of its 75% stake in MTN Syria as part of plans to simplify its portfolio and focus on its pan-African strategy.
The Middle East assets contributed less than 4% to group earnings before interest, taxes, depreciation, and amortization in the first-half ended June 30, Group president and Chief Executive Officer Rob Shuter told media as the firm reported its half-year results.
(Reporting by Nqobile Dludla; Editing by Kim Coghill)
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