MTN Nigeria approved sale of MoMo PSB and Yellow Digital stakes

MTN Nigeria said shareholders approved the sale of its stakes in MoMo Payment Service Bank and Yellow Digital Financial Services to parent company MTN Group.

TL;DR

• MTN Nigeria received shareholder approval to divest its holdings in two fintech subsidiaries.
• The subsidiaries are MoMo Payment Service Bank and Yellow Digital Financial Services.
• The buyer is MTN Group, the parent company of MTN Nigeria.

MTN Nigeria said the approved transaction covers its stakes in MoMo Payment Service Bank and Yellow Digital Financial Services. The company identified both businesses as fintech subsidiaries.

MTN Nigeria said shareholders authorized the sale of those stakes to MTN Group. The announcement describes MTN Group as the parent company of MTN Nigeria.

The source report did not state the value of the transaction, the size of the stakes being sold, or a closing date. The disclosed fact is that shareholder approval has been secured for the sale.

Related questions

• Which MTN Nigeria subsidiaries are included in the approved sale?
• Who is buying MTN Nigeria's stakes in MoMo Payment Service Bank and Yellow Digital Financial Services?
• What details about valuation or timing were disclosed in the report?