MTN to sell its SA cellphone towers to IHS in a R6.4 billion deal

The original article can be found here.

Article highlights:

  • MTN is selling its more than 5 700 of its cellphone towers in South Africa to NYSE-listed IHS Towers.
  • It will use the R6.4 billion earned from the deal to buy spectrum in next year’s auction.
  • MTN will lease the towers from IHS.