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MTN GROUP LIMITED - MTN South Africa signs an expanded roaming agreement with Cell C

Release Date: 18/11/2019 07:05
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MTN South Africa signs an expanded roaming agreement with Cell C

MTN Group Limited

(Incorporated in the Republic of South Africa)

Registration Number 1994/009584/06

Share code: MTN

ISIN: ZAE000042164

("MTN Group”)

MTN South Africa signs an expanded roaming agreement with Cell C

MTN Group confirms that MTN South Africa has signed a new long-form roaming and services
agreement with Cell C, subject to certain conditions precedent.

In May 2018, Cell C signed its first roaming agreement with MTN, providing Cell C with 2G, 3G and
4G roaming services on MTN’s network in select areas of South Africa. The new agreement will see
this access expanded to enable Cell C to roam on MTN’s network in all areas of the country.

This is aligned to MTN’s strategy to further develop the group’s wholesale business and will allow
both MTN and Cell C to harness greater efficiencies in providing telecommunications services, while
supporting a more sustainable and competitive industry.

MTN looks forward to transparent engagement with relevant stakeholders regarding this important
industry milestone.

As noted in our quarterly trading update for the period ended September 2019, MTN SA continues
to account for Cell C roaming revenue on a cash basis, and payments received since June 2019 have
remained on schedule. Cell C continues to work on its recapitalisation and liquidity challenges which,
if adequately resolved, would result in a change in MTN’s accounting treatment of Cell C roaming
revenues back to an accrual accounting methodology.


18 November 2019

Lead sponsor

J.P. Morgan Equities South Africa Proprietary Limited

Joint sponsor

Tamela Holdings Proprietary Limited

Date: 18/11/2019 07:05:00
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