{"id":18248,"date":"2020-01-03T12:58:53","date_gmt":"2020-01-03T12:58:53","guid":{"rendered":"https:\/\/www.nsemgh.com\/?p=18248"},"modified":"2020-01-03T12:58:53","modified_gmt":"2020-01-03T12:58:53","slug":"mtn-exits-towers-businesses-in-ghana-and-uganda","status":"publish","type":"post","link":"https:\/\/www.nsemgh.com\/2020\/01\/03\/mtn-exits-towers-businesses-in-ghana-and-uganda\/","title":{"rendered":"MTN exits towers businesses in Ghana and Uganda"},"content":{"rendered":"<div class=\"article-reading-content\">\n<div class=\"article-reading-summary\">\n<p>MTN Group has agreed to sell its towers businesses in Ghana and Uganda as Africa\u2019s biggest mobile phone operator refocuses on high-growth markets on the continent and in the Middle East.<\/p>\n<p>Clashes with regulators in Nigeria, Uganda and elsewhere have crimped growth, prompting the company to announce a $1 billion three-year asset-disposal plan earlier this year.<\/p>\n<p>MTN said it had agreed to sell its 49% holdings in Ghana Tower Interco B.V. and Uganda Tower Interco B.V. to AT Sher Netherlands Co\u00f6peratief U.A. for $523 million.<\/p>\n<p>The sale is expected to close in Q1 2020 leaving MTN with a profit of 6 billion rand ($425.74 million).<\/p>\n<p>The company also said it had finalised the redemption of MTN Nigeria preference shares, raising $315 million.<\/p>\n<p>MTN said it will use the proceeds to pay down its U.S. dollar-denominated debt and for general corporate purposes.<\/p>\n<\/div>\n<div class=\"article-reading-summary\">\n<p>\u201cWe remain focused on continuing to execute on the important strategic priorities of reducing debt, simplifying the portfolio and reducing risk,\u201d the firm said in a statement.<\/p>\n<p>The company is aiming to shed loss-making e-commerce assets and exit countries where it has no prospect of reaching the top-two spots in terms of market share. ($1 = 14.0931 rand)<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MTN Group has agreed to sell its towers businesses in Ghana and Uganda as Africa\u2019s biggest mobile phone operator refocuses on high-growth markets on the continent and in the Middle East. Clashes with regulators in Nigeria, Uganda and elsewhere have crimped growth, prompting the company to announce a $1 billion three-year asset-disposal plan earlier this [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":16662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[1648,11110,6725,5195,192,6543,10742,8719,1212,1398,286,434,7039,5807,6808,1064,3954],"class_list":["post-18248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-africa","tag-asset","tag-debt","tag-dollar","tag-ghana","tag-growth","tag-market","tag-middle-east","tag-mtn","tag-mtn-group","tag-netherlands","tag-nigeria","tag-phone","tag-risk","tag-shares","tag-uganda","tag-will"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/18248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=18248"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/18248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/16662"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=18248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=18248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=18248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}