MTN Group wants to stay focused on the broad telecom business and out of the distractions of investments. The South Africa’s telecom giant plans to sell interest in Amadeus to HarbourVest for $83 million, Reuters reports. It has already gotten an exit path on Jumia when the company got listed in the NYSE.
South African telecoms company MTN said on Tuesday it would sell its interest in investment fund Amadeus to private equity firm HarbourVest for around 1.2 billion rand ($83 million).
MTN said the sale, which also includes its associated holding in online travel booking website TravelStart, was part of a plan to realise 15 billion rand worth of capital over the next three years, simplify its portfolio and reduce risk.