MTN has received bids for the sale and lease back of some of its 13 000 South African telecommunications towers. Last December, MTN announced it was looking to sell and lease back part of its tower portfolio.
“MTN SA continues its work in exploring a potential sale and leaseback of its passive tower infrastructure,” said Ralph Mupia.
“Having issued invitations to offer expressions of interest in this regard, MTN SA has received over 20 responses and has engaged financial advisors to assist with the process.
“We anticipate that this process will be concluded by the end of Q3 2021.”
Under former CEO Rob Shuter, MTN kicked off a plan to raise R15 billion to help pay down debt.
The company is also planning to sell its interest in IHS Holding, Africa’s biggest tower operator.
“IHS remains key to our asset realisation programme and we are confident of making progress on realising this asset in the short -term,” said Mupita.
“In line with IHS’ public statement in August 2020, IHS continues to explore an IPO of its
shares subject to regulatory approvals and market conditions remaining favourable.”
