MTN may spend $8bn on Africa acquisition

MTN Group could spend up to $8bn on an acquisition and is looking for targets on the continent, the Middle East and Southeast Asia, CE Sifiso Dabengwa said yesterday. The mobile operator was also one of about 15 telecom providers to make it to a second stage of bidding for an operating licence in Myanmar, he said. “Growth through M&A is still an important part of our strategy. Anything between $4bn and $8bn is something that we could look at.”