Sale of Etisalat’s African towers still on the cards, report says

Emirates Telecommunications Corporation (Etisalat) is still looking to sell its tower operations across Africa, and is thought to have hired Booz & Company, Allen & Overy and KPMG to assess its telecoms portfolio, TMT Finance reports, citing an unnamed source. Standard Chartered is also continuing to advise the UAE-based telco, which last year was reported to be looking at the sale of around 4,000 towers in markets such as Nigeria, Tanzania and Zambia. ‘A process is still in motion in Nigeria,’ said the source. ‘Etisalat is currently working with local operators to consolidate its tower assets, and will then begin to negotiate with the towercos.’ The sale is expected to be on a country-by-country basis, with the 3,000 towers in Nigeria first on the block, the source added.