Following a “lengthy competitive process”, MTN Group will sell a big chunk of its South African tower portfolio to IHS Towers in a R6.4-billion deal.
The “passive” tower deal – MTN is not selling the “active”, or radio, component of the towers – involves 4 000 “greenfield” and 1 700 rooftop sites.
The transaction includes the outsourcing of power and related services (“power as a service, or PaaS”) across the entire MTN South Africa site footprint of approximately 12 800 sites.
The deal is subject to regulatory and other approvals and is expected to close in the first quarter of 2022
“The offer value amounts to approximately R6.4 billion. which incorporates the 5 709 sites and the power assets on third-party sites,” MTN said.
“The transaction will enable MTN South Africa to service its retail and wholesale clients more efficiently while creating substantial value, as reflected in the proceeds realised.
Proceeds will be
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