Central Bank of Nigeria CBN held its benchmark interest rate at 14 percent on Tuesday,…
MTN Group to swap 51 pct interest in Nigeria Tower for additional IHS stake
The Africa Telecom Giant, MTN Group Ltd, has concluded plan to exchange fifty-one (51%) of its interest in Nigeria Tower Interco BV, for an additional shareholding in IHS Holding Limited.
HIS Holding Limited is one the global leading telecommunication infrastructure, with large business presence in Middle East and North Africa (MENA) countries. The firm is also engaging in massive market penetration in Nigeria, with the hope of capturing substantial market share from ATC, Ericsson, Alcatel-Lucent among others.
MTN’s economic interest in IHS Group will increase from approximately fifteen (15%) to approximately twenty-nine percent (29%) at the conclusion of this deal.
The transaction is expected to be closed once new shares in IHS group have been issued during Q1 2017.