MTN Group Ltd. shares jumped the most in almost three years after Africa’s biggest wireless carrier started a 15 billion-rand ($1.1 billion) disposal plan to shore up the balance sheet.
The company agreed to sell its 53 percent stake in Botswana’s Mascom to Econet Global Ltd. for $300 million, the Johannesburg-based company said in a statement on Thursday. Other businesses now on the market include e-commerce services, which includes Nigerian online retailer Jumia Technologies AG. and Travelstart.co.za. MTN is also looking to sell its interest in IHS Towers Ltd., the company said.
