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South Africa's MTN to exit Middle East over medium-term

South African mobile operator MTN Group 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.

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)

((nqobile.dludla@thomsonreuters.com; +27115952816; Reuters Messaging: nqobile.dludla.thomsonreuters.com@reuters.net))

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