MTN Group to implement Newshelf acquisition

March 27, 2009

MTN Group said on Friday that subject to conditions, it is to implement the Newshelf acquisition.

In December 2008 MTN and the Government Employees Pension Fund, represented by the Public Investment Corporation (PIC), entered into a memorandum of understanding for the proposed acquisition of Newshelf 664 by MTN from the Alpine Trust (AT), the acquisition and settlement of the funding obligations outstanding to PIC in Newshelf from PIC and the specific repurchase by MTN of the MTN shares held by Newshelf.

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