New Street Research - MTN (MTN) MTN (Buy, TP: ZAR130, +48%) MTN Nigeria Q3 24 Quick Take: A much better quarter; tower lease renegotiation started to help

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New Street Research

Chris Hoare

EUR 9589.00 For Business Accounts Only

MTN (Buy, TP: ZAR130, +48%) MTN Nigeria Q3 24 Quick Take: A much better quarter; tower lease renegotiation started to help

MTN Nigeria has reported a much better set of results. Top line growth accelerated again, and EBITDA growth is back into positive territory, helped by the tower lease renegotiations.

31/10/2024 1 EN

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MTN

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
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Chris Hoare

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MTN (Buy, TP: ZAR130, +48%) MTN Nigeria Q3 24 Quick Take: A much better quarter; tower lease renegotiation started to help

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

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

MTN Uganda (Buy, TP: ZAR130, +47%) – Q3 24 Quick Take: Slower but solid quarter; MT SR guidance upgraded

OpenAI: o3 is a game changer - a few steps away from AG. After the $1bn-to-train model, the $1m-inference model.

Airtel Africa (Buy, TP: GBp200, +85%) Second share buyback program

Takeaways from our conversation with VerticalScope (FORA-TO, Not rated)

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