MTN refutes Dubai move as mischievous speculation

25 Feb 2010

Telecommunications operator MTN Group on Monday, 22 February 2010 refuted media allegations that it intended to move its operations from South Africa and de-list from the Johannesburg Stock Exchange (JSE).

MTN refutes Dubai move as mischievous speculation

It follows media speculation that the group planned to move its group operations out of South Africa, to Dubai, and eventually de-list from the JSE.

Nozipho January-Bardill, MTN Group spokesperson and executive, corporate affairs, said in a statement: "The MTN Group would like to strongly refute the mischievous speculation that it intends to 'abandon' South Africa and de-list from the JSE."

January-Bardill said that MTN Group has operations in more than 24 countries, including those in which it has mobile licences.

MTN did, however, confirm that it was in the process of moving its technical services support operations to Dubai.

The MTN spokesperson said: "However, some departments within MTN Group Management Services are based in Dubai as part of the group's ongoing response to the challenges of the changing global telecommunications industry.

"The technical services support team is moving.

"This is also intended to address the logistical challenge of supporting the operations in the Middle East, in particular, and certain parts of Africa," January-Bardill concluded.

At 1.35pm MTN shares traded 94 cents firmer, or 1.73%, to R55.19 on the local JSE.

Source: I-Net Bridge

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