Africa Marketwatch, May 2014
MTN Nigeria tower sale process well under way
MTN kicked off a process to sell the largest tower network in Nigeria, an estimated 9-10,000 towers, earlier in 2014. The portfolio unquestionably represents the most valuable single country package of African tower assets brought to market to date, and could command a valuation above US$1bn, depending on MTN’s preferred leaseback rate.
IHS raises a further US$130mn from existing investors
Less than two months after announcing a US$490mn capital raise, IHS has secured a further US$130mn from existing investors, pushing total capital raised beyond US$1.6mn.