New Street Research - MTN Nigeria Communications Plc (MTNN) New Street: MTN (Buy): Potential tower transaction will materially improve investment case

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New Street Research

Alastair Jones

New Street: MTN (Buy): Potential tower transaction will materially improve investment case

The new CEO of MTN has indicated it is considering a sale of its tower portfolio in South Africa.

09/12/2020 1 EN

Underlying

MTN Nigeria Communications Plc

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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.

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Analysts

Alastair Jones

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New Street: MTN (Buy): Potential tower transaction will materially improve investment case

MTN (Buy, TP: ZAR190, +54%) MTN Nigeria – Q1 25 Quick Take, and read across for IHS: Strong with full impact of price increases yet to flow

MTN (Buy, TP: ZAR190, +59%) Q1 25: Good start to the year, MT revenue guidance upgraded

Nigerian Telcos Zero to Hero, AAF price target to £3, MTN to ZAR 190; Q4 24 review

VIPS 2Q25 Preview: Lowering 2Q Topline Estimates

Microsoft vs. OpenAI: Implications for investors?

SATS, Carr, and the Art of the No Deal…Yet

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