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Johannesburg - South African mobile operator MTN has increased its shareholding in its operations in Uganda and Ivory Coast, the firm said on Thursday.
The group, Africa's biggest mobile operator, said its stake in MTN Uganda rose to 84.45% from 52.01% after buying a stake from a unit of Sweden's TeliaSonera for €130m.
As a result of this acquisition, MTN Uganda will be fully consolidated as a subsidiary of MTN and will no longer be treated as a joint venture, the group said in a statement.
MTN boosted its stake in MTN Ivory Coast to 68.34% from 17.34% after buying a stake from Atlantique Telecom for €42.75m.
MTN shares closed 0.6% higher at R53.60, underperforming the Top-40 index of blue chips which was up 1.66%.