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Johannesburg - MTN Group, Africa's largest telecom, said on Friday it has agreed to sell over 1 200 mobile towers in Rwanda and Zambia to IHS Holdings, as part of a strategy to dispose of some of its infrastructure to focus on products and services.
MTN, which last year sold 1 758 towers in Cameroon and Ivory Coast to Lagos-listed IHS for $284m, did not disclose the amount of the latest deal.
MTN will sell a total of 1 228 network towers, with 524 of those in Rwanda and the remaining 704 in Zambia. MTN will become the anchor tenant on the towers for an initial period of 10 years.
The transaction brings the total of number towers in IHS's portfolio to 10 500.
Separately, MTN said it plans to invest €300m over the next two to four years into internet incubators in the Middle East.
MTN, which last year sold 1 758 towers in Cameroon and Ivory Coast to Lagos-listed IHS for $284m, did not disclose the amount of the latest deal.
MTN will sell a total of 1 228 network towers, with 524 of those in Rwanda and the remaining 704 in Zambia. MTN will become the anchor tenant on the towers for an initial period of 10 years.
The transaction brings the total of number towers in IHS's portfolio to 10 500.
Separately, MTN said it plans to invest €300m over the next two to four years into internet incubators in the Middle East.
