MTN empowerment deal put on hold

February 19, 2009

MTN is postpon ing its planned R23-billion black economic empowerment transaction due to "severe constraints in the current financial markets".

The company said in a statement yesterday: "In light of the severe constraints in current financial markets, the board has determined that it is presently not in the best interests of the company, its shareholders and the BEE investors to implement the transaction during the first half of 2009 as originally planned."

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