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

MTN Group has said it will be exiting the Middle East over the medium term, starting with the sale of its 75 per cent stake in MTN Syria as part of plans to simplify its portfolio.

The Middle East assets contributed less than 4 per cent to group earnings before interest, taxes, depreciation, and amortization in the first-half ended June 30, Group president and Chief Executive Officer Rob Shuter said.