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South African News and Market Update.

South African News and Market Update

MTN Uganda to offer 20% stake in initial public offering

MTN Group has agreed to list 20% of its Ugandan unit on the country’s stock exchange. This is the latest move by Africa’s largest mobile operator to allow more local investors to buy and sell stakes in individual units. The South African company’s move is aimed at ensuring broad participation in its operating subsidiaries, it said in a statement on Tuesday. The decision follows the listings of MTN ‘s units in Nigeria, Ghana and Rwanda, partly following pressure from government and local regulators.

AB InBev looks at selling German beer brands for $1.2 billion

Anheuser-Busch InBev NV is looking at selling some of its German beer brands as it focuses on growth away from the world’s most popular alcoholic beverage, according to people familiar with the matter. The portfolio of regional brands could be valued at about 1 billion euros ($1.2 billion),

said the people, who asked not to be identified to discuss confidential information. The world’s biggest beer brewer is working with an adviser as it explores options, they said. The talks are ongoing and it’s not certain AB InBev will decide to sell the German brands, the people said.

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