I've been doing this for over a quarter-century now, and MTN Group (OTCPK:MTNOY)
may well be the most frustrating stock I've owned and followed over
that time. While there have certainly been management missteps in this
company's history, even a good management team with a good plan hasn't
been much of an elixir for the ailing stock price, as constant
regulatory nonsense across its operating area, as well as other macro
challenges, has mitigated any of the benefits.
These
shares may now be the cheapest they've ever been, but it's hard for me
not to conclude with a "… so what?", particularly with some significant
upcoming license renewals and ongoing economic and political challenges
in South Africa. Maybe I'm getting ready to throw in the towel at the
low point, but it's honestly difficult to recommend these shares even
despite significant apparent undervaluation - a good management team and
a good valuation are often highly valued, but the significant ongoing
external issues are an inescapable and unignorable negative part of this
story.
Read more here:
MTN Group Still Facing Profitability With No Prosperity
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