MTN close to selling Nigeria towers to IHS

15 Aug 2014

South African telecoms company MTN Group is expected to sign a deal to sell its Nigerian mobile towers to IHS Holding within the next few weeks, Bloomberg reports, citing three people with knowledge of the matter. The business comprises around 11,000 towers, valued at USD1 billion. Last week Etisalat Nigeria announced the sale of 2,136 of its towers to IHS Holding as part of a broader strategy to drive improvements in the quality of its network performance and to accelerate the rollout of 2G and 3G coverage and new services to its customers. Under the terms of the Etisalat transaction, which is expected to close later this year, IHS committed to investing a further USD100 million in the acquired towers.

Nigeria, IHS Towers, MTN Group, MTN Nigeria