UAE-based Etisalat has invited offers for its telecom towers in Africa, according to a Reuters report citing two people familiar with the matter.
Standard Chartered has reportedly been hired to advise the company on a potential transaction.
Etisalat…
UAE-based Etisalat has invited offers for its telecom towers in Africa, according to a Reuters report citing two people familiar with the matter.
Standard Chartered has reportedly been hired to advise the company on a potential transaction.
Etisalat operates approximately 4,500 towers in several African countries. If all sold, those towercos could allow the company to raise up to US$600m, wrote Dow Jones.
Reports agree to say that towers in Tanzania might be the top pick for bidders given the growth potential of the country’s telecom market.
Etisalat was not immediately available for comment before the press deadline.
The most recent tower deal in Africa is the JV created between American Tower and MTN in Uganda at the end of last year. According to a statement by the two companies in early December, ATC Uganda, the JV, will acquire all of MTN Uganda’s 1,000 towers for a price of up to US$175m.