MTN shelves giant BEE deal

February 20, 2009

[Lesley Stones Business Day] MTN's huge black empowerment plan to spread its shares among ordinary citizens has been shelved as most people are too cash-strapped to buy into the business.

The cellular network hopes conditions will buck up enough by year's end for it to relaunch the scheme to sell about 6% of its stock to black buyers at a discount to market value.

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