MTN Considers Sale of Stake in Iran Ride-Hailing App Snapp
- Africa’s largest wireless carrier says Snapp is non-core
- Company changing focus to home continent, to exit Middle East
A Snapp driver checks the app on his mobile in Tehran.
Photographer: Atta Kenare/AFP via Getty Images
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MTN Group Ltd. is considering selling its stake in Iran’s ride-hailing app Snapp as it trims its e-commerce portfolio and plans an exit of the Middle East.
While Snapp retains top spot in Iran’s ride-hailing market, MTN has identified it as a non-core part of its business, Ralph Mupita, chief financial officer of Africa’s largest wireless carrier, said in an interview. Mobile operator MTN Irancell, on the other hand, remains key to the group, he said.