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MTN Uganda offers exit option for retail investors
MTN said the organised sale of shares under the opt-out plan will not interfere with normal trading of the company’s shares on the Uganda Securities Exchange (USE).
MTN Uganda has opened an exit path for shareholders who do not wish to hold a stake in a new entity that will house the company’s mobile money unit after it is separated from its telecommunications operation.
The separation plan calls for the mobile money business MTN MoMo to be moved to an entity known as MTN New FinCo, in which existing minority shareholders with a combined 23.99 percent stake in the telco will hold a similar interest through a special trust.
