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News Highlights : Top Energy News of the Day -November 20, 2023 at 12:16 am EST

News Highlights : Top Energy News of the Day -November 17, 2023 at 12:16 am EST

We Have Taken Over MTN Move to Buy Stake in Competitor After Declaring N147bn in Profit

A source said there are ongoing conversations for the acquisition of 9mobile’s operating spectrum in a deal that will ensure MTN own a stake in its competitor

Mastercard ventures into African fintech with MTN investment

Mastercard Inc. is set to acquire a minority stake in MTN Group Ltd.'s fintech division. The undisclosed stake is estimated at $5.2 billion.

Mastercard to buy stake in MTN s fintech unit

Mastercard has agreed to take a minority stake in the financial-technology business of MTN Group, the largest wireless carrier in Africa, which the latter values at $5.2bn. Shares in MTN rose as much as 10%, following the announcement. The deal will be structured in two parts: a commercial agreement to use Mastercard s technology infrastructure to develop MTN s offerings and the investment into a minority stake.

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