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MTN Closes in on Tower Deal Amid Wider Breakup

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Africa's Largest Wireless Carrier MTN Group Ltd. Earnings
Photographer: Waldo Swiegers/Bloomberg
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MTN Group Ltd. is set to complete the sale and leaseback of South African towers by the end of next month, while a separation of both the fintech and fiber units is also underway as the wireless carrier strives to pay down debt.

The tower deal could generate as much as 11 billion rand ($747 million), according to analysis by Bloomberg Intelligence. The fintech move is due to be finalized by March and fiber over the next two years, the Johannesburg-based firm said in a statement on Thursday.