Shareholders of MTN Nigeria Communications Plc are set to vote on Thursday on a proposed restructuring that will separate its financial technology business from its core telecommunications operations.
According to a regulatory filing on the Nigerian Exchange on Wednesday, the vote, scheduled as part of the company’s Annual General Meeting on April 30, centres on a related-party transaction that will see control of its fintech subsidiaries—MoMo Payment Service Bank Limited and Y’ello Digital Financial Services Limited—shift into a new holding structure backed by the parent MTN Group.
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