South Africa 28.12.2017 11:16 am

Phone company MTN assigns its long dated shareholder loan to IHS Holding

Photo: Supplied

Photo: Supplied

MTN assigned its shareholder loan to IHS Holding.

Mobile phone company MTN said on Thursday it had, through MTN Nigeria Towers, assigned its shareholder loan of approximately $231 million, which was due in 2024/2025, to IHS Holding.

The group said the agreement allowed MTN Nigeria to continue to invest in its network more efficiently, and further simplified MTN’s interests in IHS.

“The agreement will enable MTN and IHS to mutually benefit from continued investment and commitment to the rollout of broadband and data services in Nigeria,” it said.

In February 2017, MTN Group exchanged its interest in Nigeria Tower Interco B.V., resulting in MTN Group having an economic interest of 29 percent in IHS and no longer being a shareholder of Interco.

– African News Agency (ANA)

 

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