New Street Research - IHS Plc (IHS.LG) ... MTN (Buy, TP: ZAR130, +73%) IHS Towers (Buy, TP: $8, +167%) MTN and IHS contract renewals in Nigeria – Our thoughts and implications

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New Street Research

Chris Hoare

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MTN (Buy, TP: ZAR130, +73%) IHS Towers (Buy, TP: $8, +167%) MTN and IHS contract renewals in Nigeria – Our thoughts and implications

Both MTN Nigeria and IHS Nigeria have announced the renewal and extension of all their MLAs in Nigeria, including new financial terms. This development is materially positive for both companies in our view. This means all MLAs in Africa between MTN and IHS have now been renewed and extended. Separately, MTN has also announced the exit from Guinea-Bissau.

08/08/2024 1 EN

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Chris Hoare

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MTN (Buy, TP: ZAR130, +73%) IHS Towers (Buy, TP: $8, +167%) MTN and IHS contract renewals in Nigeria – Our thoughts and implications

MTN (Buy, TP: ZAR130, +57%) Q3 24: Solid, SR growth back on track with MT guidance

IHS Towers (Buy, TP: $6, +140%) Q3 24: Solid quarter, lower capex guide; still waiting for the strategic review – Call feedback included

MTN (Buy, TP: ZAR130, +52%) MTN Rwanda – Q3 24 Quick take: Mixed quarter

CelcomDigi (Buy, TP: RM6, +80%) Q3 24 Quick Take: Lowered service revenue guidance on Prepaid SIM consolidation; EBIT trend improving

BABA FY2Q25 Results: Monetization Starts to Stabilize for Taobao and Tmall

ASML 2024 CMD: What did we learn?

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