Tuesday, June 9, 2015

Seeking Alpha: Currency And Competition Grinding On MTN Group

MTN Group (OTCPK:MTNOY) continues to be an underperforming stock for investors looking for exposure to Africa outside of mining or other natural resources. That the local shares are up a bit since my last update is no comfort at all to ADR holders, as ongoing depreciation of the South African rand has punished performance.

Operationally, I continue to like MTN Group's prospects, though I acknowledge that the company has to up its game in South Africa and faces a host of risks and uncertainties in Nigeria. While I think a long-term perspective can smooth these issues to some extent, and I continue to believe the shares are undervalued, MTN Group's need for both internal improvement and external stability puts in a category suitable only for high-risk investors.

Follow this link for the full article:
Currency And Competition Grinding On MTN Group

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