MTN to sell towers business
February 4, 2021
By Chris Forrester
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.