Notes to the Group financial statements l Note 9.1

9.1 Interest in subsidiaries and joint ventures

1 Joint venture.
2 Subsidiary acquired during 2014 (see note 9.4.2).
3 Subsidiary incorporated during 2014.
4 Effective shareholding of 66,8% (see note 9.3).
5 Subsidiary acquired during the year (see note 9.4) indirectly held through MTN Nigeria.
6 Subsidiary incorporated during 2015.

There were no changes in the effective holding in any of the Group’s subsidiaries during the year unless otherwise indicated.