MTN Sells BICS

Sourced from Business Tech MTN Group has announced its plans to sell its 20% stake in Belgacom International Carrier Services SA (BICS) to Proximus NV/SA for approximately R1,8 billion. The telco is expected to use this to pay down US dollar debt. BICS was classified as a non-current asset held for sale and this transaction has resulted in a remeasurement of its carrying value resulting in a reduction of R397 million for the year ended 31 December 2020. According to MTN, it will record a profit on disposal amounting to approximately R1,2 billion during the first half of 2021. The closing of the sale is dependent on customary regulatory approval. MTN Launches Supersonic AirFibre in South Africa MTN has launched its Supersonic AirFibre offering in South Africa. The product is said to overcom...