Africa's Largest Wireless Carrier to Shun Ethiopian Bid
- Investment case fades for Africa’s biggest carrier MTN
- MTN previously made $600 million offer for mobile license
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Ethiopia’s revived plan to sell a second telecom license to international operators received an early setback as Africa’s largest wireless carrier isn’t likely to resubmit a bid, according to people familiar with the matter.
MTN Group Ltd. offered $600 million to enter Africa’s second most populous country earlier this year, only to be rejected by the Ethiopian government. And while the state has since adjusted the terms of the auction in pursuit of attracting a higher amount, MTN sees the investment risk starting to outweigh the benefits, said the people, who asked to remain anonymous as the deliberations are not public.