| Type | Public |
|---|---|
| Industry | Telecommunications |
| Founded | 1994 |
| Headquarters | Johannesburg, South Africa |
| Key people | RS Dabengwa, Group president and CEO |
| Products | GSM-related products Internet services |
| Revenue | US$ 17.3 billion (2010) |
| Operating income | US$ 4.6 billion (2010) |
| Net income | US$ 2.5 billion (2010) |
| Total assets | US$ 23.4 billion (2010) |
| Total equity | US$ 10.1 billion (2010) |
| Employees | 17,509 (2010) |
| Website | mtn.com |
MTN Group is a South Africa-based multinational mobile telecommunications company, operating in many African and Middle Eastern countries. Its head office is in Johannesburg.[1]
MTN describes itself as "the leader in telecommunications in Africa and the Middle East" and as of early 2007 is active in 21 countries.[2][3] (Since 2004, Africa has been the fastest growing mobile phone market in the world).[4][5][6]
MTN Group's President and CEO is RS Dabengwa (from 1 April 2011).[7] The company sponsors the CAF Champions League football competition as well as APOEL F.C. winners of the Cypriot First Division in 2009 and participants in the 2009–10 UEFA Champions League.
On 18 March 2010, it was announced that MTN signed a sponsorship deal with English football Giants Manchester United F.C.[8]
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MTN acquired Investcom, thereby expanding to ten more countries, mainly under the Areeba and Spacetel brands.[9]
As of early 2007, MTN is active in:
MTN's competition in South Africa includes Vodacom, Cell C, Virgin Mobile and 8ta.
In May 2008, it emerged that Bharti Airtel, an India-based telecommunications company, was exploring the possibility of buying MTN Group. The Financial Times reported that Bharti was considering offering US$19 billion for a 51% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm.
Talks fell through after a few days and Bharti Airtel pulled out of the proposed deal on 24 May. Two days later, it was reported that another Indian telecommunications company, Reliance Communications is in talks with MTN for a "potential combination of their businesses." If realized, the estimated worth of the combined entity would have been $70 billion (£35 billion), with 116 million subscribers worldwide.[10][11]
On 18 July, the two companies announced that they had mutually decided to end discussions regarding the merger.
On 26 June 2009, MTN Group participated in Belgacom International Carrier Services (BICS), a subsidiary of Belgacom, by merging it with its own subsidiary, MTN ICS. BICS will function as official international gateway for all international carrier services of Belgacom, Swisscom and MTN group. These companies respectively hold 57.6 %, 22.4 % and 20.0 % of the shares of the company.
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