MTN Group: Zakhele trading to relaunch this week

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The MTN Zakhele broad-based black economic empowerment scheme would relaunch over-the-counter trading of its shares from Wednesday, the MTN Zakhele board said on Friday. Trading was postponed shortly after the launch on November 25 to enhance the online and call-centre platform capacity. The system crashed following an overwhelming interest in the shares held by black shareholders, which have now become tradeable. The R13.8 billion scheme, launched in 2010, holds 4 percent of MTN Group. Thulani Gcabashe, the MTN Zakhele chairman, said: “We are confident that the updated system is robust and will be able to accommodate higher volumes of activity upon resumption of trading on Wednesday.” MTN shares fell 1.89 percent to close at R209.62 on the JSE on Friday.

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