MTN Business Solutions, an arm of MTN Group in Namibia, reveals plans to sell 30 percent of its share capital to local shareholders, according to The Namibian report.
The mobile network company seeks interested investors to submit a letter stating their intentions to buy the shares.
According to Manferd Engling, MTN Nambia Managing director, “the value of the stake will only be determined after the valuation of the expression of interests that will be received by 20 April.”
Engling said the latest call for investors is part of the requirement to operate in Namibia for a company currently wholly owned by MTN South Africa.
Prior to this time, the telecommunication company dealt in IT solutions only, but with the recipient of its Internet Service Provider (ISP) licence last year, the company now offers other services including fibre network solutions to private companies and government institutions.
Source: The Namibian