MTN Hires Citi, Standard Bank for South African Towers Deal
- MTN looking to raise 5 billion rand to 10 billion rand
- Africa’s largest wireless carrier is disposing of assets
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MTN Group Ltd. appointed Citigroup Inc. and Standard Bank Group Ltd. to advise on a sale and lease back of some of the carrier’s South African telecom towers, according to people familiar with the matter.
Africa’s largest mobile-phone company by sales is looking to raise between 5 billion rand ($333 million) and 10 billion rand from the deal, said the people, who asked not to be identified as the process is ongoing. The Johannesburg-based firm will seek to attract interest from specialist tower companies operating on the continent, they said.