Following a “lengthy competitive process”, MTN Group will sell a big chunk of its South African tower portfolio to IHS Towers in a R6.4-billion deal.
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Vodacom Group will spin off its South African tower portfolio into a separate business and may seek partners for the newly created entity.
Vodacom’s capital expenditure in South Africa jumped by 11.1% year on year, pushing spending on its network to R5.6-billion from R5-billion a year ago.
Telkom, Vodacom and MTN have withdrawn their legal action against the communications regulator over the planned withdrawal of temporarily assigned spectrum at the end of this month.
Following a meeting with the CEOs of six of South Africa’s telecommunications infrastructure operators on Monday, Icasa is moving to license access to “provisional spectrum”.
Telkom CEO Sipho Maseko was responding to questions about a news report which said MTN had made an approach to buy the company.
Despite a weekend report of an approach by MTN Group, Telkom shares were trading lower on Monday, implying investors don’t believe a deal is imminent or even possible.
Shares of MTN Nigeria hit an all-time high on Monday after receiving approval to operate mobile money services in Africa’s most populous country.
MTN Group recently expressed an interest in acquiring Telkom, Bloomberg News reported on Sunday, citing unnamed sources “familiar with the matter”.
Exclusive | The communications regulator is moving to defuse the looming court battle over its planned withdrawal of Covid-19 temporary spectrum.