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MTN - MTN increases its stake in its operations in Cote D"ivoire and Uganda

Release Date: 06/07/2006 17:09
Code(s): MTN
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MTN - MTN increases its stake in its operations in Cote D"ivoire and Uganda MTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06) Share code: MTN ISIN ZAE000042164 ("MTN") MTN INCREASES ITS STAKE IN ITS OPERATIONS IN COTE D"IVOIRE AND UGANDA MTN is pleased to announce that it has increased its shareholding in MTN Cote d"Ivoire and MTN Uganda effective 1 May and 6 July respectively, further consolidating its position in the respective regions. The acquisition of 32.44% in MTN Uganda from Swedish telecom company, Overseas Telecom AB (which is 65% owned by TeliaSonera) for Euro130 million was successfully concluded today and will take MTN"s holding in MTN Uganda to 84.45% from 52.01%. As a result of this acquisition, MTN Uganda will be fully consolidated as a subsidiary of MTN and will no longer be treated as a joint venture. MTN increased its stake in MTN Cote d"Ivoire, previously Loteny Telecom, by 17.34% to 68.34% through a purchase of this stake from Atlantique Telecom for Euro42.75 million. Fairland 6 July 2006 Sponsor Merrill Lynch South Africa (Pty) Limited Date: 06/07/2006 05:09:09 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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