TechBloomberg Tech2h ago
MTN to Buy Back $375 Million of Shares
MTN to Buy Back $375 Million of Shares as It Reaffirms Guidance
TL;DRAfrican telecom giant MTN buying back $375M in shares while maintaining growth targets despite earnings decline.
Why it matters: Signals management confidence in fundamentals amid Africa's telecom consolidation and competitive pressures on valuations.
MTN Group Ltd. said it will buy back 6 billion rand ($375 million) of shares and reaffirmed its guidance on revenue growth and capital metrics for the next three to five years, even as earnings by Africa’s biggest mobile-network operator fell mainly because of writedowns at its…
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