• EDITORIAL POLICY
  • ABOUT US
PML Daily
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS

Paradigm shift! MTN to sell off network towers in Uganda, Ghana as telecom giant changes business strategy

CONRAD AHABWE | PML Daily Senior Correspondent by CONRAD AHABWE | PML Daily Senior Correspondent
October 31, 2019
in BUSINESS
5
SHARES
231
VIEWS
FacebookWhatsAppTwitter
MTN Uganda headquarters in Kampala (PHOTO/File)

KAMPALA – Telecom giants MTN Group Ltd has embarked on a process of selling its shares in the management of cell sites in Uganda and Ghana, from which telecoms hire network towers.

The move is aimed at helping the company recoup some funds held in such assets so that it invests them in network expansion and offering other services.

According to Bloomberg news, the South African telecom giant is currently holding talks with American Tower Corp (ATC), its joint partner in the ownership of the towers, so that it can cede its stake.

ATC acquired Eaton Towers Ltd in May, according to details from Uganda Communications Commission (UCC).  Eaton had initially acquired 400 towers from Warid Telecom in 2012. At the time, MTN and ATC created a joint venture firm, ATC Uganda in 2011, which acquired all MTN towers.

MTN holds a 49 percent stake in ATC, which currently controls about 1,400 towers in Uganda.  The sale of the tower assets in both Ghana and Uganda could generate MTN about $530 million.

According to Bloomberg news, MTN has been exploring asset sales while focusing on key markets such as Nigeria. Revenue in the company’s biggest market advanced 12% in the third quarter, while the earnings margin was 54%, according to a statement on Thursday. That’s even as a $2 billion tax dispute looks set to drag on into next year.

Comments

Tags: BloombergMTN Uganda headquarterstop
Previous Post

Africell launches the ‘New Chapter’, a strategy for growth and development in Uganda

Next Post

Rwampara MP hospitalized after being involved in road accident

Related Posts

Moses Musisi, the Breweries Ltd' master brewer (L) speaks during a recent meeting (PHOTO/Courtesy).
BUSINESS

Manufacturers warn of alcohol price hike over digital tax

December 11, 2019
15
Abdu Katuntu is a Ugandan politician, currently serving as the Member of Parliament for Bugweri County, Bugweri District
NEWS

I won’t return to Parliament after 2021 – Katuntu

December 11, 2019
46
Kyadondo East MP Bobi Wine headed campaigns in Hoima to drum support for Asinansi Nyakato.
NEWS

Bobi Wine puts EC on notice over countrywide consultations for his presidential bid

December 11, 2019
50
Honored to meet another dynamic and inspiring school leader Mr. Andrew Tsoka, #Headteacher at Nsala Community Day Secondary School
NEWS

World Bank faults Uganda govt for leaving nursery education to ‘exploitative’ private proprietors

December 11, 2019
32
Controversial city businessman Hamis Kiggundu took over Nakivubo, after getting approval of President Museveni (PHOTO/PPU).
NEWS

SPOTLIGHT! Nakivubo Stadium controversy goes to court

December 11, 2019
149
Some of the sim cards that were recovered at suspect's home on Tuesday (PHOTO/Courtesy).
CRIME

Two arrested over fraud

December 11, 2019
69
Next Post
Rwampara MP Charles Ngabirano speaks to media at a function recently (PHOTO/File)

Rwampara MP hospitalized after being involved in road accident

local

local

energyandminerals

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us

Facebook Twitter Youtube RSS

KIU

  • EDITORIAL POLICY
  • ABOUT US

© 2019 PMLDAILY.COM

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2019 PMLDAILY.COM