July 16, 2018 / 5:59 AM / 2 months ago

MTN's Dubai unit sells MTN Cyprus for $304 million

JOHANNESBURG, July 16 (Reuters) - Mobile network operator MTN Group Ltd said on Monday its subsidiary MTN Dubai sold MTN Cyprus to Monaco Telecom S.A for 260 million euro ($304 million).

The telecoms firm said it would also allow Monaco Telecom to use the MTN brand in Cyprus for up to three years in return for a commercial fee. ($1 = 0.8554 euros) (Reporting by Tanisha Heiberg; Editing by Sunil Nair)

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