Standard Bank hired for Etisalat Nigeria tower sale?

16 Jan 2014

United Arab Emirates-based telecoms group Etisalat has hired Standard Bank to advise on the planned sale of transmitter towers by its 40%-owned Nigerian unit, according to a report by Reuters which cites three banking sources aware of the matter. Standard Bank has been hired due to its local presence and expertise in the African country, the unnamed sources said, adding that the Johannesburg-based lender is in the process of helping to identify potential buyers, in a deal that could raise around USD400 million. TeleGeography’s GlobalComms Database notes that Etisalat is Nigeria’s fourth largest mobile network operator by subscribers, with a total of 15.76 million customers at the end of September 2013, giving it a market share of 13.0%. The sector is led by MTN Nigeria (with a 45.8% share of total subscribers in 3Q13), followed by Globacom (19.9%) and Airtel (18.7%), while a number of smaller CDMA operators accounted for the remainder of the market.



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