MTN Ghana marked for 35% stake sale

Mergers, Acquisitions and Financial Results

MTN Group is gearing up for the divestment of a 35% stake in its unit in Ghana, with the transaction expected to generate USD500 million for the company, TechCentral writes.

According to people familiar with the matter, the company is approaching potential investors with regards to the private placement, which values the Ghanaian operator at USD1.5 billion. The sale would help MTN meet the terms and conditions for the award of its 15-year 4G licence last year; the company was granted one lot of 2×10MHz spectrum in the 800MHz band on the condition that 35% of the business is divested to Ghanaian investors. Currently, MTN Group owns 98% of the Ghanaian cellco.

Source: Telegeography