Sawiris contemplating bid for MobiNil towers

18 Oct 2013

Accelero Capital, the venture capital firm owned by Egyptian tycoon Naguib Sawiris, is thought to be in the running to buy 3,000 towers belonging to Orange Group subsidiary MobiNil in Egypt. TMT Finance reports that the first stage of bidding for the 3,000 or so MobiNil towers has already been completed and binding offers are now imminent. Lazard is running the process for Orange and has also been strongly tipped to oversee the French group’s sale of towers belonging to its West African subsidiary Sonatel. The website notes that the London-based Ashmore Group is also said to be considering an offer, while regional towercos IHS, Eaton and Helios have distanced themselves from the process.

According to TeleGeography’s GlobalComms Database, Sawiris holds a 5% stake in MobiNil through Orascom Telecom Media & Technology Holding (OTMT); he sold his controlling stake in the telco to the Orange Group in 2012.

Egypt, Orange Egypt