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South Africa's MTN to exit Middle East over medium-term

South African mobile operator MTN Group said on Thursday it will be exiting the Middle East over the medium term, starting with the sale of its 75% stake in MTN Syria as part of plans to focus on Africa.

MTN is in advanced discussions to sell the stake in MTN Syria to TeleInvest, which is the minority shareholder in MTN Syria with a 25% holding, Group President and Chief Executive Officer Rob Shuter told media on a conference call as the firm reported its half-year results.

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