Africa’s biggest wireless firm MTN said American Tower will take over its Nigerian tower operations from IHS Holding from 2025.
The company said it was pro-actively re-negotiating its tower contracts in Nigeria as the lease of approximately 2 500 of its network sites in its largest market, for which IHS had provided services, will expire in 2024 and 2025.
Last year, MTN completed a sale-and-lease back deal with IHS to take over more than 5 700 of its tower sites in South Africa. Since then the relationship between the two companies has soured and MTN is currently in a shareholder dispute with the tower firm, in which it holds 26%, over governance issues.
American Tower previously bought MTN’s stake in its tower operations in Uganda and Ghana.
© 2023 Bloomberg
