MTN furthers ignominious Middle East exit with Yemen sale

MTN’s plans to back quietly out of its struggling Middle Eastern operations took a step forward this week when it announced the sale of its mobile business in Yemen.
The South Africa-based mobile group said it has transferred its majority stake in MTN Yemen to an entity known as Emerald International Investment, an affiliate of Omani conglomerate Zubair Corporation, its minor partner in the telco. According to its most recent annual report, MTN held an 83% stake in the Yemeni operation.
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