MTN, which has 215 million subscribers across its 22 operations, is still looking for "key operations" that can add value to the group.
However, president and CEO Sifiso Dabengwa says MTN will not make an acquisition just for the sake of growing its subscriber base, or expanding its subscriber base, as any deal must add value.
The group, which recently bought a majority stake in Afrihost for an undisclosed amount, is also on the lookout for companies that can aid its digital ambitions as it moves into e-commerce on the back of a deal with Africa Internet Holding (AIH), notes Dabengwa.
The partnership has resulted in the creation of an exclusive vehicle to develop e-commerce businesses across the continent.
Founded in 2012 as a joint venture between Rocket Internet and Millicom International Cellular, Internet group AIH has presence in 13 countries on the continent, including SA, Nigeria, Egypt, Morocco, Cote d'Ivoire and Ghana. The company has developed several e-commerce ventures in the last 18 months, including Jumia, Zando, Kaymu, Jovago, Lamudi, Carmudi, Easytaxi and Hellofood.
Dabengwa adds MTN will seek to buy entities where it does not have skills internally, although this expansion could also take the form of a partnership. It will continue to acquire stakes in small entertainment companies, such as those that can provide music content, he adds.
The group, which had unsuccessfully bid for a licence to operate in Myanmar, has also not found any expansion opportunities in South East Asia that are worth pursuing, notes Dabengwa. He says the company will "keep on looking".
Dabengwa says MTN is open to looking at possible deals, but has not - as yet - been able to wrap up any potential acquisitions because the company did not see how any value would be added.
MTN has strict processes that it follows when looking at possible takeover targets, Dabengwa adds.
Share