MTN to sell towers business

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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.


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