South Africa telco MTN Group is seeking to sell off its telecommunications towers. MTN has reportedly instructed Citigroup and Standard Chartered banks to advise on a ‘sale and leaseback’ solution for the division.
MTN is said to be looking to achieve $340 million – $700 million from the sale.
The portfolio of towers is impressive with a total of some 13,000 sites across the nation.
MTN is on record as saying it is looking to raise 25 billion Rand in asset disposals. It already has a model in that it sold off its Ghana and Uganda tower sites.