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    MTN   ZAE000042164

MTN GROUP LIMITED

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Swisscom, Belgium's Proximus confirm talks over sale of BICS stakes

07/17/2020 | 05:31am EDT
FILE PHOTO: The logo of Swiss telecoms group Swisscom is seen at an office building, in Zurich

Switzerland's Swisscom and Belgian state-controlled telecoms firm Proximus said on Friday that talks were under way on the sale of a majority stake in their venture whose equipment handles global calls, text and Internet traffic.

Switzerland's Swisscom and Belgian state-controlled telecoms firm Proximus said on Friday that talks were under way on the sale of a majority stake in their venture whose equipment handles global calls, text and Internet traffic.

Swisscom may sell its 22.4% stake in Belgacom International Carrier Services (BICS), while Proximus confirmed separately it may reduce its nearly 58% holding in the BICS venture to 49%. Both said in statements that a transaction with potential investors is not assured.

South Africa's MTN Group Ltd, the largest mobile operator of Africa and the Middle East, is also a minority owner in BICS, whose telecom cables and satellites handle calls, text messages and Internet traffic across the world.

BICS revenue fell 3.4% to $1.3 billion euros in 2019, with operating profit also slipping, as the unit was hurt by erosion in BICS's traditional voice services.

"Swisscom confirms that the shareholders of BICS (Belgacom International Carrier Services) are exploring a potential sale of 51% of BICS's shares. As part of the potential transaction, Swisscom explores the sale of its 22.4% participation in BICS," said Swisscom, whose shares are nearly 51% owned by the state.

Reuters last week reported that non-binding offers are due next week on the sale of the majority BICS stake, with final bids likely around the end of August or September.

(Reporting by Michael Shields, editing by John Miller)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX -1.00% 525.21 Delayed Quote.0.16%
MTN GROUP LIMITED -2.41% 104.69 End-of-day quote.73.93%
PROXIMUS SA -1.82% 16.955 Real-time Quote.6.54%
S&P AFRICA 40 INDEX -1.39% 168.34 Delayed Quote.-1.32%
SWISSCOM AG -0.49% 528.6 Delayed Quote.11.34%
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Financials
Sales 2021 177 B 12 287 M 12 287 M
Net income 2021 14 980 M 1 042 M 1 042 M
Net Debt 2021 75 092 M 5 222 M 5 222 M
P/E ratio 2021 11,8x
Yield 2021 3,34%
Capitalization 187 B 13 038 M 12 976 M
EV / Sales 2021 1,48x
EV / Sales 2022 1,35x
Nbr of Employees -
Free-Float 65,2%
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Number of Analysts 12
Average target price 102,82 ZAR
Last Close Price 104,69 ZAR
Spread / Highest target 29,0%
Spread / Average Target -1,79%
Spread / Lowest Target -28,4%
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Managers and Directors
NameTitle
Ralph Tendai Mupita Group President, CEO & Executive Director
L. Tsholofelo Molefe Group Chief Financial Officer
Mcebisi Hubert Jonas Chairman
Charles Molapisi Chief Information & Technology Officer
Jens Schulte-Bockum Group Chief Operating Officer
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