New Street: MTN (Buy, TP: ZAR130, +8%) Q221 results likely to drive upgrades as leverage concerns fade
: MTN has reported a very strong set of Q221 results. Nigeria and Ghana already reported strong numbers, but the SA performance was very encouraging resulting in revenue share gains from Vodacom.MTN Group is a holding company engaged in the investment in the telecommunications industry offering voice services via 2G and 3G networks, including prepaid and postpaid airtime, please-call-me message service, international roaming, electronic voucher distribution services and community payphones, mobile and fixed data products, including short message service (SMS), multimedia message services, internet access, MTN MobileMoney, content portal MTN Play, Google SMS information services, USSD services and corporate data services. Co.'s operations are divided into the following three regions: South and East Africa, West and Central Africa, and the Middle East and North Africa.
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