By Ian Walker
MTN Group Ltd. said Wednesday that group Ebitda grew 21% for the first quarter and that the fintech separation project is progressing well.
The South Africa-based telecommunications group said that MTN SA has received over 20 expressions of interest for its passive-tower infrastructure, and expects to conclude the process by the end of the third quarter.
The potential sale and leaseback of the assets is part of the company's target to realize 25 billion rand ($1.73 billion) from its asset realization program.
MTN Group said the rise in earnings before interest, taxes, depreciation and amortization reflects improved margins which increased to 44.2% from 42.7%, and an 18% rise in group service revenue.
Total subscribers fell by 1.7 million to 277.9 million due to new SIM registration regulations in Nigeria, the company said.
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(END) Dow Jones Newswires