MTN Assigns $231 Million Shareholder Loan to IHS; Books Charge in 2017 Accounts
December 28 2017 - 2:22AM
Dow Jones News
By Ian Walker
MTN Group Ltd. (MTN.JO) said Thursday that it has assigned a
$231 million shareholder loan to IHS Holding Ltd. and agreed new
improved terms for MTN Nigeria's future network-expansion plans,
resulting in a one-off accounting charge on its 2017 earnings.
The South African telecoms company said it expects a 2.8 billion
South African rand ($230 million) loss on the carrying value of the
loan following the assignment to IHS Holding. This will therefore
impact earnings per share, but not earnings before interest, taxes,
depreciation and amortization.
The loan was due in fiscal 2025.
MTN said the agreement with IHS allows MTN Nigeria to continue
to invest in its network more efficiently, and further simplifies
MTN's interests in IHS.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
December 28, 2017 02:07 ET (07:07 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
MTN (PK) (USOTC:MTNOY)
Historical Stock Chart
From Dec 2024 to Jan 2025
MTN (PK) (USOTC:MTNOY)
Historical Stock Chart
From Jan 2024 to Jan 2025
