Egypt's Mobinil Close to Tower Sale
Published on: 16th May 2014
By: Ian Mansfield
Egypt's Mobinil is close to a deal to sell its tower assets it has been reported. The deal is "well advanced" the company confirmed to Bloomberg News without elaborating on details.
Mobinil is majority owned by France's Orange and has been thought to be looking to sell tower assets for some time as part of a general trend to dispose of the towers to an independent management company.
Talks about divesting network infrastructure sites are heading into the final stage, Sebastien Audra, a spokesman for Orange confirmed to Bloomberg.
There are no details about how many towers would be sold, if a deal is signed.
Last year it was suggested that around 3,000 towers could be up for sale, which would have a valuation estimated at some USD450 million. The sale, as rumoured, would therefore be for the bulk of the towers, excepting some key units in urban areas.
Mobile networks sometimes retain a small portfolio of strategic towers for themselves in areas where rivals might otherwise struggle to secure tenancies of their own if they can't lease the tower from its new owners.
On the web: Bloomberg News