MTN up on Vodafone rumour

A dealer attributed this to alleged talks around its African operations. MTN had hit an intra-day high of R136 from its close of R128, which meant an eight rand gain at one point.

"MTN's share price is up quite strongly. Vodafone is in talks with MTN because they want to buy its African stake," explained a dealer.

For the year ended 2007, MTN's biggest African operation in Nigeria recorded an increase in its subscriber base by 34% to 16.5 million at the end of December.

By 10:06 MTN's share price had pulled back from its intra-day high and was trading at 132.20 rand, up R4.20 from its close.

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