Despite failed talks with Indian telecommunications player, Reliance Communications, MTN expects higher than forecast headline earnings.
The company's trading statement predicts an increase of between 23.3% and 28.3% in adjusted headline earnings per share for the six-month period ended 30 June, against the previously reported corresponding period.
However, the company's share price has been on a steady decline since May, when discussions with India's Bharti Airtel began.
Subsequent to failed talks with Bharti, MTN entered into exclusive negotiations with Anil Ambani-led Reliance Communications. However, a blood feud between the company's major shareholders led to MTN walking away from a deal.
It is speculated that MTN may still be considering a deal with another international company. The operator has said it will keep an eye out for other opportunities, but has not been specific on whether there are other deals in the offing.
Despite the turmoil over the last few months, the company also predicts higher than expected basic headline earnings per share of between 9% and 14%.
MTN's share price dropped marginally on Friday by 0.86% (-100c) to close at R115.
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