MTN Approves 375 Million Dollar Share Buyback
South African mobile operator MTN Group approved a 375 million dollar share buyback program following a 21.3 percent rise in half-year adjusted profit. The telecom operator also reported strong cash generation and revenue growth across key African markets.
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MTN GROUP LTD-SPONS ADR approved a 6 billion rand ($375 million) share buyback programme on Monday morning. The rollout followed a 21.3% rise in half-year adjusted profit. Chief Executive Officer Ralph Mupita said the buyback launched immediately.
