Hengeler Mueller advises MTN Group for its partnership with Rocket Internet and its investments in internet businesses in Africa and the Middle East

27. December 2013

South African mobile operator Mobile Telephone Networks Group (MTN) has become a shareholder in two companies of incubator Rocket Internet thereby investing in the development of e-commerce and other internet businesses in Africa and the Middle East. MTN acquires a 33.3% stake in African Internet Holding (AIH). The remaining stakes are held by Rocket Internet and Millicom International Cellular. AIH is currently already active in 13 African countries, including South Africa, Nigeria, Egypt, Morocco, Ivory Coast and Ghana. In addition to the investment in AIH, MTN is acquiring a 50% stake in Middle East Internet Holding (MEIH). The total investment volume of these transactions is expected to be approximately EUR 300 m.

Hengeler Mueller advised MTN Group on the transaction. The Hengeler Mueller team included partners Albrecht Conrad (M&A) and Wolfgang Spoerr (Regulatory) as well as associates Jonas Pape, Robert Thamm, Matthias Berberich and Tobias Schubert (all Berlin).