Nigeria: Ramaphosa's Company Buys U.S.$335 Million Stake in MTN Nigeria

29 November 2012

A South African investment company, Shanduka Group Limited, led by businessman, Cyril Ramaphosa, has bought a minority stake in MTN Nigeria in a strategy to tap into faster-growing African markets.

According to Bloomberg, Shanduka acquired a $335 million stake in Nigeria's largest mobile operator with more than 45.6 million subscribers, it said in a statement yesterday.

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