mtn group ltd (MTN) Snapshot

According to the news report, it is learnt that advisors have been appointed for a possible deal that could lead MTN Group Limited (JSE:MTN) to acquire a stake in Reliance Communications Ltd. (BSE:532712).

MTN Group has appointed Zunaid Bulbulia as CEO of MTN South Africa and Karel Pienaar as group chief strategy officer. As group CSO Pienaar will be responsible for overseeing MTN strategy across its 22 operations. Pienaar has served the group in various leadership roles, including as group chief technology and information officer and CEO of MTN Nigeria. Pienaar was previously CEO of MTN SA, while Bulbulia was CFO of the South African operation and acting chief business officer for MTN Business. Both Pienaar and Zunaid Bulbulia will serve on the MTN Group Executive Committee.

MTN Group Limited's Shareholders referred to the announcement dated March 7, 2013, regarding Mr. Cyril Ramaphosa's retirement as non-executive director and Chairman of the company on May 28, 2013. It is confirmed that Mr. Ramaphosa retired from the Board of MTN at the conclusion of the Annual General Meeting. Following a comprehensive review by the Board, overseen by the lead independent non-executive director, Mr. Alan van Biljon, the Board announced the appointment of Mr. Phuthuma Nhleko as a non-executive director and Chairman of MTN with effect from May 29, 2013. The Board announced appointment of Mr. Nhleko who previously served as a non- executive director and Chairman of the company from July 2001 until June 2002 and thereafter as an executive director as well as Group President and CEO until March 2011.