MTN has sold a significant proportion of its tower infrastructure to IHS Holding Limited.
IHS Holding Limited has completed the acquisition of 5,701 towers in South Africa from MTN SA.
Cash consideration for the Transaction is R6.4 billion, IHS stated. This excludes lease liabilities estimated to be R4.6 billion. This revenue includes power pass-through on acquired sites that will take time to materialise, IHS stated. The transaction has received the necessary regulatory approval from the South African Competition Commission.
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