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MTN

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Super Contributor
What study is this based on? Please refer to the Annual Report, Mtn avg spend per customer in SA was more than that off Vodacom..
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Valued Contributor
but SA is what % of total MTN customers ??
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Super Contributor
Vodacom reported earlier in November that it had increased its subscriber base to 33.7 million customers in South Africa, while MTN also recently noted a rise in subscriber numbers to 29.1 million. This was as at end of 2015. So I cant for the life of me see how we can value MTN less then Vodacom.. Granted VOD has about 5 million extra subscribers in SA..but MTN has 200 Million in Nigeria,Iran and few other African markets.. This is a major buying opportunity for long term.
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Super Contributor
Vodacom reported earlier in November that it had increased its subscriber base to 33.7 million customers in South Africa, while MTN also recently noted a rise in subscriber numbers to 29.1 million. This was as at end of 2015. So I cant for the life of me see how we can value MTN less then Vodacom.. Granted VOD has about 5 million extra subscribers in SA..but MTN has 200 Million in Nigeria,Iran and few other African markets.. This is a major buying opportunity for long term.
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Valued Contributor
you missing the point, you commented that each MTN sub was worth just over R1k of market cap, 170million of these subscribers are NOT in SA, they are in very much lower ARPU markets .. whereas vast majority of Vodacom subscribers are in higher ARPU SA market .. so yes the numbers are skewed with VOD at around R4k per sub .. but it not a straight line comparison .. that said we know each others views on this stock .. so we better off drinking ..
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Super Contributor
So Simon are you saying the spend of the 5 million extra VOD customers is equilavent or greater than the spend of the 200 million extra customers? I disagree with you my friend as the Nigeria contribution to revenue is 36% of total income..
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Valued Contributor
no that is not what I said ..
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Super Contributor
So what are we saying? VOD can never be valued more than MTN in my opinion..Fine included.. It is just madness..In my opinion
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Super Contributor
Their Sa users are what... 13% of total users? Be realistic, would you.
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Super Contributor
Agreed, trade the price with Cfd's and ride the wave with the equity shares.
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Valued Contributor
all I am saying is .. VOD has about 65% of users in SA, a very high ARPU market .. MTN has about 15% of its users in SA .. hence MTN has a lot more low ARPU users .. a lot more ..
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Super Contributor
What a load of misplaced aggressive nonsense. I direct you to the annual financial statements. Read them and then remember what the word "average" means.
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Super Contributor
What a load of misplaced aggressive nonsense. I direct you to the annual financial statements. Read them and then remember what the word "average" means.
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Not applicable
lets also not forget that MTN has its assets in Iran (with a corruption lawsuit still pending on the license issue - and at a nuclear standoff with the west and difficult to repatriate money), Syria (say no more), Nigeria (we all know the story there), etc etc. Without Nigeria, MTN is worthless. And they seem to be in a permanent state of war with the Nigerian authorities.
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Super Contributor
I certainly don't believe it is worthless. They could jettison everything except SA and still be worth more than they are now... if VODACOM's valuation is to be trusted. Somewhere in the middle then perhaps... Long term- it is difficult to see a future for these CELL companies though. I guess "you pays your money and you takes your chances." "Roll up, roll up!"
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Super Contributor
Come now... MTN SA and VOD only differ by 5 million subscribers.. so how can the whole MTN group be worth less than VOD?
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Super Contributor
Aggressive? If you can sense aggression your feelings are misplaced.. If you wrong you wrong..simple..
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Super Contributor
Perhaps - but here is your response to my perfectly harmless quote. " What study is this based on? Please refer to the Annual Report, Mtn avg spend per customer in SA was more than that off Vodacom.." AND you must have realised by now that I "interrogate" the financials thoroughly and then commit "bigly" as Donald Trump would say.
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Super Contributor
So if you done your research kindly enlighten the masses on the difference between the avg spend of a MTN SA customer vs a VOD subscriber?
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Super Contributor
Now Hali - you know that this is about average spend of an MTN client vs average spend of a VODACOM client. NOT of SA clients only. Now you are retrospectively varying your argument. I call foul. Sometimes you just have to take your lashes, eat that humble pie, crow etc. We've all been through it. Just laugh it off.
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