MTN Group has announced that it has completed the sale of its West African subsidiary, Spacetel Guinea-Bissau, to Telecel Group Mobile Limited after receiving all necessary regulatory approvals.
This move aligns with MTN's strategic goal of accelerating portfolio transformation. The company emphasized that it has taken steps to ensure a smooth transfer of ownership, which it believes is in the best interests of MTN Guinea-Bissau and its stakeholders.
MTN Group CEO Ralph Mupita indicated that this sale is part of a broader effort to streamline operations following the recent sale of MTN Afghanistan.
Additionally, MTN Nigeria has successfully renegotiated its tower leasing agreements with IHS Nigeria, extending contracts to 2032 and adjusting terms to reduce currency risks and support margin recovery.
