Private equity backed telecommunications towers manager, Helios Towers Africa (HTA) is to acquire 1,020 towers from of Millicom Tanzania in a deal valued at more than $80million.
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The transaction will see HTA’s Tanzanian entity Helios Towers Tanzania (HTT) acquire rights to build and maintain towers to support Millicom’s wireless network expansion plans. Millicom will retain a significant minority interest in HTT.
HTA is backed by Albright Capital Management, Soros Strategic Partners, RIT Capital Partners and Helios Investment Partners, as was set up to build, maintain and lease wireless telecommunications towers across Africa.
“HTT enables Tanzanian wireless operators to outsource non-core tower-related activities and focus capital and management resources on providing higher quality services more cost-effectively,” said Charles Green, HTA’s chief executive officer.
The deal comes just after HTA closed a similar deal with Tigo Ghana. Helios is mulling plans to enter into agreements with other operators in Tanzania.