R23.2bn bonanza

December 17, 2008

MTN unveils plans for 'top-up' BEE deal

MTN has unveiled plans for a new black economic empowerment deal after announcing the unwinding of its current empowerment vehicle.

The cellular operator, which boasts the largest network in Africa, will be issuing a R3.2-billion special dividend -- -- equal to about 1.8 percent of MTN's share capital -- as the first in dissolving its current black economic empowerment vehicle.

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