IHS Towers announced on 17 November that it had signed a deal with MTN to acquire 5,709 towers in South Africa. The deal between Africa’s largest mobile operator and largest towerco also included a power-as-a-service (PaaS) deal at approximately 12,800 MTN sites, which means IHS Towers will manage power at sites it owns and sites at which MTN is just a tenant. The deal is valued at ZAR6.4bn (US$413.4mn), although due to the deal’s hybrid structure it is not possible to translate that to a price paid per tower.
The IHS Towers-MTN deal
The SLB and ESCO deals are expected to deliver revenues of US$220mn and adjusted EBITDA of US$80mn annually, in the first full year of operations.
