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Reuters
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MTN Group CEO Ralph Mobita announced today, Thursday, that the South African telecommunications operator will be leaving Syria.
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On the reasons for leaving the Syrian market, the CEO indicated that “working there has become untenable”.
The official also said his company would not enter the Ethiopian market and said MTN would not be offered a license in Ethiopia.
“The (council) has thought very carefully over the past two months, took into account the criteria of strategic financial risk and decided not to continue with (trade) liberalization operations in Ethiopia,” Mobeta told reporters.
Last February, MTN put its stake in Syria up for sale and pledged to negotiate the sale of its 75% stake in its Syrian unit for $ 65 million, although the activity is subject to custody at view.
Source: Reuters
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