UAE telco Etisalat is in talks with companies over the sale of its towers in Tanzania, it is understood.
Etisalat owns a majority stake in Zanzibar Telecom, which operates under the brand Zantel and is Tanzania’s fourth largest mobile carrier,…
UAE telco Etisalat is in talks with companies over the sale of its towers in Tanzania, it is understood.
Etisalat owns a majority stake in Zanzibar Telecom, which operates under the brand Zantel and is Tanzania’s fourth largest mobile carrier, according to the company’s website.
A source with knowledge of the situation told TelecomFinance that discussions had already taken place, but the potential deal was unusually complex as a third of the sites are not in use, thus making valuations based on revenues more difficult.
Standard Chartered is reportedly advising Etisalat on the deal, which is believed to involve the sale of 600 or 700 towers.
Africa’s tower sector has seen an uptake in M&A in recent times. As TelecomFinance previously reported, MTN South Africa is understood to be in talks with American Tower Company (ATC) over the sale of its tower assets.
Last October, MTN Group sold towers in Cote d’Ivoire and Cameroon to towerco IHS for US$284m, as part of the company’s outsourcing strategy to save costs.
Etisalat did not respond in time for the deadline.
