Etisalat Nigeria has approached several banks with a request for proposal (RFP) for advice on the sale of its towers in the country.
According to a telecoms banker with knowledge of the situation, the RFP was sent out several weeks ago already. It…
Etisalat Nigeria has approached several banks with a request for proposal (RFP) for advice on the sale of its towers in the country.
According to a telecoms banker with knowledge of the situation, the RFP was sent out several weeks ago already. It remains unclear if an adviser has been picked in the meantime or if Etisalat is still studying proposals.
Etisalat Nigeria has approximately 2,500 towers in the country, valued at a reported US$400m. Partly-owned by UAE’s Etisalat, the company is the fourth-largest mobile operator in the country.
The banker commented that Africa’s four main tower companies – Eaton, Helios, American Tower, and IHS – are likely to look at the assets. IHS and Helios both already operate towers in Nigeria.
Meanwhile, South African operator MTN is also in the process of offloading tower assets in several jurisdictions, with a deal expected within the next few weeks in Zambia and Rwanda.
The source suggested that MTN might also consider its options for Nigeria, now that Etisalat is looking to sell its towers there.
In recent months, several operators on the continent have been looking to part with their passive infrastructure in order to manage costs more efficiently. Egypt’s Mobinil is hoping to close the sale of 3,000 towers in early 2014.
