South African mobile operator MTN Group on Thursday said it will be exiting the Middle East over the medium term, starting with the sale of its 75% stake in MTN Syria as part of plans to focus on Africa.

Group President and Chief Executive Officer Rob Shuter told media on a conference call as the firm reported its half-year results that MTN is in advanced discussions to sell the stake in MTN Syria to TeleInvest, which is the minority shareholder in MTN Syria with a 25% holding.

Shuter said as part of the review of their portfolio, they believe the group is best served to focus on its pan-African strategy and to simplify its portfolio by exiting the Middle East region in an orderly manner.

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