MTN Uganda is planning to list part of its shares on the Uganda Securities Exchange (USE) in Kampala. A report from The East African says MTN prefers a phased approach to the sale, first offering a stake to Ugandan pension funds through a private share offer before subsequently holding a public offer. CommsUpdate reported earlier this month that selling shares on the local bourse forms part of the government’s conditions for MTN’s pending licence renewal. The telco will also be required to meet new network coverage obligations with its 3G and 4G infrastructure.
Separately, MTN Uganda is reported to have filed a petition with the High Court seeking self-regulation and supervision following a series of disagreements with the country’s telecoms regulator, the Uganda Communications Commission (UCC). PML Daily writes that MTN is accusing the UCC of working outside the law when determining complaints against the telco. MTN was unhappy with a UCC decision which found in favour of VAS Garages, a company which provided value added services (VAS) on behalf of MTN. MTN was ordered to pay the supplier UGX529 million (USD136,000) for breach of contract. The UCC has defended its decision, accusing the operator of flouting industry procedures and cheating suppliers.