The Nigerian affiliate of Etisalat has completed the transfer of 555
telecom towers to Africa’s IHS, the second tranche of a sale and
leaseback deal announced last year, the Gulf’s biggest
telecommunications operator said on Monday.
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| etisalat |
The deal, for which no financial value was given, is part of
Etisalat’s strategy to improve the quality of its network and to
accelerate the roll-out of 2G, 3G and 4G coverage in Nigeria, Etisalat
said in a statement.
Following the deal, IHS, the biggest tower company in Africa, will
own and manage more than 15,500 of the installations in Nigeria and more
than 23,100 in Africa as a whole.
Last August, Etisalat Nigeria agreed a deal to sell 2,136 of its
towers to privately-held IHS and lease them back as part of plans to
expand its coverage in Africa’s biggest economy.
Mobile phone operators have been selling or leasing towers to
specialist companies, to reduce building and maintenance, associated
with security costs and electricity shortages, as revenue per user
falls.
India’s Bharti Airtel Ltd in November said it will sell more than
4,800 mobile phone masts in Nigeria to American Tower Corp for $1.05
billion, as part of its plan to cut costs and pare debt.
Reuters
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