(Bloomberg) MTN Group Ltd., Africa’s biggest wireless carrier, said Mastercard Inc. agreed to take a minority stake in its financial-technology business, which the company values at $5.2 billion. Shares rose as much as 10%. Most Read from BloombergOutsider Milei Upends Argentina’s Election With Primary WinAmerica’s Fastest Growing City Is Embracing ‘Yellowstone’ ManiaZuckerberg Says ‘Time to Move On’ From Musk Cage FightGoldman Pencils In First Fed Rate Cut for Second Quarter of 2024US Steel
Mastercard Inc. is making waves in African fintech by acquiring a minority stake in MTN Group Ltd.s financial-technology subsidiary, valued at a whopping $5.2 billion. This move has sparked a remarkable 10% increase in MTN shares, underscoring the significance of the collaboration. | Pulse Ghana
“Signing of the definitive investment agreements is expected to occur in the very near term,” MTN Chief Executive Officer Ralph Mupita said in a statement on Monday.