Johannesburg - MTN [JSE:MTN] could cash in from an initial public offering of Africa’s largest telecommunication towers company by selling a stake valued by the wireless carrier at about R27bn ($2.3bn).
MTN, Africa’s largest mobile-phone company by sales, is planning to cut its debt, Mupita said.
Borrowings rose to R57bn ($4.8bn) in 2017 from R52bn the previous year.
The shares rose 1.2% to R133.60 as of 15:30 in Johannesburg, valuing the company at R252bn.
IHS is owned by French investment firm Wendel SA and Goldman Sachs & Co, as well as MTN.
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