Business & Finance
MTN Finalizing Nigeria, Uganda Fintech Spinoffs; Adds Alipay
Key Points
Deals MTN Finalizing Nigeria, Uganda Fintech Spinoffs; Adds Alipay MTN Group Ltd. is finalizing the spinoffs of its Nigerian and Ugandan financial-technology operations as part of a reorganization of its mobile-money unit to allow Mastercard Inc. and other strategic buyers to take minority stakes in its fintech businesses. “The separations are complex as we have to minimize value leakage,” Chief Executive Officer Ralph Mupita said at the company’s capital markets day on Wednesday. “On...
Deals
MTN Finalizing Nigeria, Uganda Fintech Spinoffs; Adds Alipay
MTN Group Ltd. is finalizing the spinoffs of its Nigerian and Ugandan financial-technology operations as part of a reorganization of its mobile-money unit to allow Mastercard Inc. and other strategic buyers to take minority stakes in its fintech businesses.
“The separations are complex as we have to minimize value leakage,” Chief Executive Officer Ralph Mupita said at the company’s capital markets day on Wednesday. “On fintech, we are open to minority shareholding all the way up to 30%; we are not driven by IPO timelines.”