MTN has monetised their towers in seven sub-Saharan African countries – representing the majority of the most attractive portfolios to towercos. While Airtel concluded a portfolio asset sale, albeit to multiple counterparts, MTN has proceeded one country at a time – raising a similar amount to Airtel, albeit with MTN’s prized tower assets in South Africa as yet retained. In this article, TowerXchange summarises MTN’s tower transactions to date, and once again asks “what’s left?” MTN has disposed of the majority of their most attractive tower assets, raising an estimated US$2.5bn+ whilst retaining equity stakes in joint venture towercos in selected markets.
MTN’s passive infrastructure monetisation strategy
