TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      How AI could transform financial services in emerging markets

      19 August 2022

      Standard Bank IT spending tops R10-billion in six months

      19 August 2022

      Blue Label expects robust full-year earnings growth

      19 August 2022

      Hungry Prosus to splurge up to R30.7-billion on iFood stake

      19 August 2022

      Sarb tells banks they should work with crypto exchanges

      18 August 2022
    • World

      15 September pegged as target date for ethereum’s big ‘Merge’

      19 August 2022

      Qualcomm gets serious about servers

      19 August 2022

      China blasts US over ‘discriminatory’ Chips Act

      18 August 2022

      Tencent reports first-ever sales decline

      17 August 2022

      Chip makers are flashing a big warning for the global economy

      17 August 2022
    • In-depth

      Are you a chronic procrastinator? Read this!

      18 August 2022

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Africa Data Centres
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»MTN hires Citi, Standard Bank for South African towers sale

    MTN hires Citi, Standard Bank for South African towers sale

    News By Loni Prinsloo2 February 2021
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    MTN Group has appointed Citigroup and Standard Bank Group to advise on a sale and leaseback of some of the carrier’s South African telecommunications towers, according to people familiar with the matter.

    MTN is looking to raise between R5-billion and R10-billion from the deal, said the people, who asked not to be identified as the process is ongoing. The Johannesburg-based firm will seek to attract interest from specialist tower companies operating on the continent, they said.

    MTN hasn’t made a final decision about the scope or timing of the sale, the people said. The shares pared early gains to trade 0.7% higher as of 3.54pm in Johannesburg, and are down 23% over a 12-month period.

    The sale of part of MTN’s 13 000-strong South African tower portfolio would go towards the company’s plans to raise R25-billion from asset disposals

    MTN, Citi and Standard Bank declined to comment.

    The sale of part of MTN’s 13 000-strong South African tower portfolio would go towards the company’s plans to raise R25-billion from asset disposals over the next three to five years. The carrier exited stakes in tower assets in Ghana and Uganda as part of an earlier sales drive, and last year offloaded a minority interest in e-commerce group Jumia Technologies.

    Tower companies such as IHS Holding and American Tower Corporation have been expanding in Africa to tap rising demand for broadband and take up of smartphones. South Africa is in the process of rolling out 5G services and boosting rural mobile coverage, and is planning to auction new high-speed Internet spectrum in March.  — (c) 2021 Bloomberg LP

    Citigroup MTN MTN South Africa Standard Bank top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleTeraco secures R2.5-billion in new funding round with Absa
    Next Article Tarsus bosses step down as Alviva closes in on deal

    Related Posts

    How AI could transform financial services in emerging markets

    19 August 2022

    Standard Bank IT spending tops R10-billion in six months

    19 August 2022

    Blue Label expects robust full-year earnings growth

    19 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Does your contact centre have the CX factor?

    19 August 2022

    Entelek, A2pay to roll out 2 500 free Wi-Fi sites in South Africa

    18 August 2022

    Companies are drowning in data – but solutions are at hand

    18 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.