MTN, which returned to profit in the first half of its financial year in the absence of one-off charges related to a $1.1 billion Nigerian fine, said the assignment of the loan to IHS will lead to a loss of 2.8 billion rand ($228 million) on transfer of the carrying value of the loan.<\/p>\n
The loss on transfer will impact headline earnings per share (HEPS) for 2017, the main profit measure in South Africa that strips out certain one-off items, but not earnings before interest, tax, depreciation and amortisation (EBITDA), the firm said.<\/p>\n
MTN said the loan, which is due in 2024\/2025, will allow its Nigerian unit to continue to invest in its network and simplify MTN\u2019s interests in IHS.<\/p>\n
\u201cThe agreement will enable MTN and IHS to mutually benefit from continued investment and commitment to the rollout of broadband and data services in Nigeria,\u201d MTN said in a statement.<\/p>\n
MTN formed a joint venture partnership with specialist tower company IHS in 2014 to own and operate MTN\u2019s transmitter towers in Nigeria.<\/p>\n
IHS has operations in Nigeria, Cameroon, Cote d\u2018Ivoire, Rwanda and Zambia.<\/p>\n
{{With Reuters}}<\/p>\n","protected":false},"excerpt":{"rendered":"
MTN Group, Africa\u2019s biggest mobile phone operator, said on Thursday it had assigned a $231 million shareholder loan to phone tower group, IHS Holding Ltd, impacting its 2017 profits.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-36625","post","type-post","status-publish","format-standard","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/36625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=36625"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/36625\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=36625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=36625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=36625"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=36625"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=36625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}