MTN Nigeria, a subsidiary of South Africa’s MTN Group, is expecting to sign today a NgN470bn (US$3bn) loan with a consortium of lenders, TelecomFinance has confirmed.
It is understood the consortium mainly includes local banks but also international…
MTN Nigeria, a subsidiary of South Africa’s MTN Group, is expecting to sign today a NgN470bn (US$3bn) loan with a consortium of lenders, TelecomFinance has confirmed.
It is understood the consortium mainly includes local banks but also international ones. Proceeds of the transaction will be partly used to finance MTN Nigeria’s 2013-2016 business plan.
In late November last year, Shanduka Group acquired a US$335m minority stake in the mobile operator from three private investors.
It was not revealed what proportion of MTN Nigeria was acquired but majority shareholder MTN Group holds a 78.83% stake in the Nigerian unit.
MTN Nigeria is the largest mobile carrier in the country.
