S.Africa’s MTN plans to offload shares in Nigeria business via public offer

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(Reuters) – MTN Group plans to proceed with a public offer to sell up to 575 million shares in its Nigerian business, the South African telecoms operator said on Thursday as it reported a surge in third-quarter revenue and core profit.

The company said the offer will open this month with a bookbuild to institutional investors, after which a fixed price will be announced for retail investors.