Coronation Asset Management has increased its beneficial interest in MTN Group to 5%, crossing the disclosure threshold for a significant shareholding in the telecoms group.
MTN, which is Africa’s biggest mobile network operator, received notification from Coronation Asset Management on 17 September that its beneficial interest, held on behalf of its underlying clients, had reached 5% of MTN’s issued ordinary share capital.
The disclosure was published on the JSE’s Stock Exchange News Service (SENS) on 21 September, in terms of section 122 of the Companies Act, the Companies Regulations and the JSE Listings Requirements.
The notification does not disclose the value of the shares acquired, or provide details of the underlying Coronation clients.
Coronation Asset Management is a South African investment manager and part of Coronation Fund Managers, which was founded in Cape Town in 1993. The group describes itself as an active investment manager with a long-term, valuation-driven approach and had R778 billion in assets under management as at 30 June 2026.
MTN Group’s major disclosed institutional shareholders include the Public Investment Corporation, which holds about 20% of the telecoms group, while Ninety One and Coronation Asset Management each hold around 5%.
Other significant institutional investors include Capital Research & Management, Vanguard, BlackRock and Fidelity.
The move comes as MTN continues to reshape its balance sheet and simplify its operations. The group recently launched a share repurchase programme, following the release of its interim results for the six months ended 30 June.
MTN’s latest SENS disclosure records Coronation’s 5% interest but does not indicate any change in control or strategic relationship between the asset manager and the telecommunications group.
The announcement was signed off by MTN’s board, which accepted responsibility for the information and confirmed it accurately reflected the notification received from Coronation.
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