MTN looking to sell SA towers: report
MTN is looking to sell its South African towers to IHS Holding, according to Bloomberg, citing a person familiar with the matter.
The news group reported that MTN has begun talks with IHS, and is looking for as much as $2 billion for the infrastructure.
MTN has around 19,000 towers in the country.
MTN Group has previously offloaded its towers across Africa to IHS, having sold off its 9,151 network towers in Nigeria, with additional transactions in Cote d’Ivoire, Cameroon, Rwanda and Zambia between 2012 and 2013.
According to Bloomberg’s sources, MTN favours a deal with IHS, but has also attracted interest from American Tower Corp.
The discussions with the potential buyers could result in a joint venture in which MTN will retain a large stake, Bloomberg reported.
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