A Middle Eastern company has put its African mobile subsidiaries on the block, TelecomFinance understands.
Lazard has been appointed by Lebanon’s Lintel Holding to sell Africell Sierra Leone and Africell Gambia, with preliminary bids due by the end of…
A Middle Eastern company has put its African mobile subsidiaries on the block, TelecomFinance understands.
Lazard has been appointed by Lebanon’s Lintel Holding to sell Africell Sierra Leone and Africell Gambia, with preliminary bids due by the end of October.
This is not the first time that Africell has been on the block. Previously, Rothschild was mandated to sell the Gambian asset, but Lintel then decided to bulk up by acquiring the Tigo Sierra Leone operator from Millicom in November of last year. Prior to that acquisition, Africell Sierra Leone had a 38% market share, while Tigo Sierra Leone had an 8% market share, according to Telegeography figures.
Yesterday, Africell Sierra Leone announced that it had surpassed the one million subscriber mark, having launched 900MHz services in February 2005.
According to the Lintel website, Africell Gambia has 700,000 subscribers.
