Econet Plans Initial Public Offering of Botswana Mobile Unit
- Company will offer portion of Mascom after buying MTN stake
- Econet chairman Masiyiwa founded Mascom two decades ago
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Econet Group plans to offer shares in newly acquired Botswana mobile-phone unit Mascom on the nation’s stock exchange this year, Chairman Strive Masiyiwa said.
Zimbabwe-based Econet is finalizing regulatory approval of its $300 million purchase of 53 percent of Mascom from MTN Group Ltd. in March. The acquisition increased Econet’s stake in Mascom to 60 percent, with the remainder held by the Botswana Public Officers Pension Fund.