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Vodacom Is Now Worth More Than MTN


MTN’s legal battle with the Nigerian authorities has seen the company lose its spot as Africa’s highest-valued telecommunications operator to Vodacom.

As pointed out by Bloomberg, MTN’s market cap was R244 billion at the close of market trading on 11 May – behind Vodacom’s R249 billion.

“This year marks the first time the rankings have been reversed since Vodacom first sold shares in an initial public offering in 2009,” said Bloomberg.

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MTN’s shares have declined 31% since 26 October, when the Nigerian authoritiesissued the operator with a R61-billion fine for failing to disconnect unregistered SIMs in the country.

Vodacom has gained 12% in the same period, according to the report.

This news follows MTN’s recent quarterly update, in which it reported that the group’s subscriber numbers had decreased by 1.4% since Q4 2015.

Vodacom vs MTN - 1 year performance

Vodacom vs MTN – 1 year performance

Source: Business Tech

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