MTN expects earnings increase from Nigerian tower sale

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During September 2014, MTN agreed to form a joint venture with IHS to operate its towers in Nigeria.

MTN said it expects a 15-25 percent increase in earnings from 2014 due to the sale of its passive infrastructure in Nigeria. According to the company, Net earnings are expected to reach ZAR 16.79-18.25 per share, and headline earnings will increase an estimated 5-15 percent to ZAR 14.82-16.23, MTN said in a trading statement.

During September 2014, MTN agreed to form a joint venture with IHS to operate its towers in Nigeria. It will book a one-time gain on the partial sale of the assets to the new company. MTN will retain 51 percent of the towers company and continue to lease capacity on the towers.

MTN has revealed that it will disclose its annual results on 04 March, 2015

Staff Writer