MTN Group has denied speculation that the mobile operator might consider relocating its group operations from South Africa to Dubai and possibly delist from the JSE.
In a statement made available to ITNewsAfrica.com, the company said, “The MTN Group would like to strongly refute the mischievous speculation that it intends to ‘abandon’ South Africa and delist from the JSE. The Group has operations in more than 24 countries, including those in which it has mobile licenses.
However, some departments within MTN Group Management Services are based in Dubai as part of the Group’s ongoing response to the challenges of the changing global telecommunications industry. This is also intended to address the logistical challenge of supporting the operations in the Middle East, in particular, and certain parts of Africa”.
This follows last week’s speculation in the South African media that the company planned to leave the country and operate from Dubai, leaving the local business as a subsidiary.