MTN Group formalises agreement to exit its operation in Syria

MTN Group divested its 75% equity interest in MTN Syria to TeleInvest for $65 million. TeleInvest, a Syrian investment firm, acquired the controlling stake, marking MTN Group's complete exit from the Syrian mobile market. This transaction concludes MTN's multi-year strategic imperative to streamline its portfolio by exiting non-core, high-risk operational geographies.

Counterparts (2)

Seller

MTN

company

MTN Group is a multinational mobile telecommunications company, connecting approximately 280 million people in 19 countries across Africa and the Middle East. MTN focuses on providing voice, data, fintech, digital services, enterprise and wholesale services.

Buyer

S

Syrian Arab Republic

company