US-based American Tower and the MTN Group of South Africa had reportedly entered in to a definitive agreement to establish a joint venture tower company in Uganda. With the new company to operate under the ATC Uganda banner, under the terms of the deal between the two companies, MTN Group’s local subsidiary MTN Uganda will divest all of its existing towers, which number around 1,000, to the JV for approximately USD175 million. ATC Uganda will subsequently be managed by American Tower, and be controlled by a holding company in which the US company holds a 51% stake; MTN Group will hold the remainder.
Read the article:
OVETEL American Tower and MTN Group to form Ugandan tower joint venture
No comments:
Post a Comment