Etisalat Nigeria Sells Towers to IHS Holding
Published on: 13th Aug 2014
Note -- this news article is more than a year old.
Etisalat Nigeria is selling a large portion of its tower assets to IHS Holding for an undisclosed amount. The transaction, the first by a major GSM operator in Nigeria, is expected to close later this year.
In total, IHS is buying 2,136 towers from the Nigerian mobile network operator, taking its total in the country to over 6,540 towers.
Under the terms of this transaction, IHS has committed to investing a further USD100 million in the towers acquired, on advanced generators, batteries and alternative energy solutions to reduce diesel consumption and improve efficiency of grid use.
Issam Darwish, CEO of IHS, added: "We are delighted to have been trusted by Etisalat Nigeria with their passive network infrastructure. Our market-leading operations team, managed through a state-of-the-art network operations centre and our continual investment in better, more efficient systems and technologies will ensure that that trust is well-placed."
IHS will, as usual for this sort of transaction, market services on the towers promoting tower sharing and colocation.