Mascom shares to go on sale

In what has been hailed as an exciting development by industry experts, the public will have an opportunity to buy shares in Mascom before the end of the year.

The company’s founder, Strive Masiyiwa announced this week that shares would be available for public purchase when the mobile giant lists on the Botswana Stock Exchange Limited (BSEL), before 2019 ends.

This follows Masiyiwa buying back control of Mascom in March, paying MTN an estimated US$300 million to re-acquire the shares he originally sold them 14 years ago.

MTN decided to sell its share in Mascom after it reportedly failed to gain management control, leaving it unable to execute its BRIGHT strategy.

This was a result of a complex ownership structure involving a Portuguese Telecom company.

MTN had envisaged taking full control of Mascom and rebranding it to MTN Botswana, but saw its efforts thwarted after it failed to gain control of the company.

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