MTN
has reached an agreement in principle with IHS Holding Limited (IHS) for the
transfer of its towers business, comprising up to 9,151 of MTN’s mobile network
towers in Nigeria, IHS said in a statement on Thursday.
The
transaction is expected to reduce MTN Nigeria’s operating costs, drive network
efficiencies and further expand MTN’s voice and data capacity.
This
is the ninth tower transaction for IHS and its fifth with MTN following the
transactions in Cote d’Ivoire, Cameroon, Rwanda and Zambia that took place in
2012 and 2013. On completion of this transaction, IHS will manage over 20,000
towers in Africa.
Under
the terms of the transaction and subject to requisite regulatory approvals,
