Guinea Junta Seeks to Buy 75% Stake MTN Is Selling in Local Unit

Guinea’s junta said it plans to acquire the stake MTN Group Ltd. is selling in its unit in the world’s biggest producer of bauxite, stalling a proposal to sell the business to Telecel Group.

MTN had signed an agreement with Telecel to sell the unit for $1, the Johannesburg-based company said in a statement in October last year, when the business had total debt of 4.6 billion rand ($246 million). The government will in coming months rename the company, Prime Minister Amadou Oury Bah said in a post on X.

Military rulers in coup-hit countries of West Africa are exerting ...