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MTN hires Citi, Standard Bank for SA towers deal
To advise on a sale and lease back of some of the carrierâs South African telecom towers.
By Loni Prinsloo, Bloomberg
2 Feb 2021 16:19
Image: Dean Hutton/Bloomberg
MTN appointed Citigroup and Standard Bank to advise on a sale and lease back of some of the carrierâs South African telecom towers, according to people familiar with the matter.
Africaâs largest mobile-phone company by sales is looking to raise between R5 billion ($333 million) 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 hires Citi and Standard Bank for South African tower deal
Bloomberg2 February 2021
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MTN Group Ltd. appointed Citigroup Inc. and Standard Bank Group Ltd. to advise on a sale and lease back of some of the carrier’s South African telecom towers, according to people familiar with the matter.
Africa’s largest mobile-phone company by sales is looking to raise between 5 billion rand ($333 million) and 10 billion rand 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.