South African cellular provider Cell C is planning to sell its network of base stations within the next four weeks, according to its CEO Lars Reichelt in an interview with South African website TechCentral.
Last spring, TelecomFinance reported that both…
South African cellular provider Cell C is planning to sell its network of base stations within the next four weeks, according to its CEO Lars Reichelt in an interview with South African website TechCentral.
Last spring, TelecomFinance reported that both Eaton Telecom and American Tower were leading the bidding consortia for the passive components of its base stations, with American Tower in the strongest position at the time after Eaton failed to secure funding from private equity firm Providence. At an earlier stage of the negotiations, Helios and Crown Castle were also among the bidders for the towers.
A deal is expected to help the company repay its debt. According to its website, Cell C’s network covers more than 30% of South Africa’s geographic area and 87% of the population.
When contacted by TelecomFinance, a spokesperson for the company confirmed that a deal would be announced in the next few weeks, without commenting further.
Citigroup is advising Cell C on the sale.
