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BRIEF-MTN updates on proposed r9.9 bln broad-based empowerment transaction
August 22, 2016 / 6:16 AM / a year ago

BRIEF-MTN updates on proposed r9.9 bln broad-based empowerment transaction

Aug 22 (Reuters) - MTN Group Ltd

* MTN - announcement relating to MTN’s proposed r9.9 billion broad-based empowerment transaction

* In addition to 2016 MTN BEE transaction, MTN board of directors proposes to establish a new employee share ownership plan for benefit of eligible mtn employees

* 2016 MTN BEE transaction with continuing contribution of MTN Zakhele empowerment transaction, translates to effective indirect black ownership in excess of 30 pct of MTN’s South African operations

* Says r9.9 billion new BEE transaction, MTN Zakhele Futhi, consisting of up to approximately 4 pct equity ownership in mtn

* Says transaction leveraged through vendor and third party funding Source text for Eikon: Further company coverage:

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