MTN sells 18.9% stake in Jumia

MTN

(AriseTV) – South Africa’s MTN said on Friday it had now exited its 18.9% stake in the continent’s online retailer Jumia, making R2.3 billion ($142.31 million) in net proceeds.

MTN said in August it had filed with the New York Stock Exchange to prepare for a secondary sale of Jumia shares as part of a R25 billion divestment plan aimed at simplifying its portfolio over the next three to five years.

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