Etisalat Nigeria mulls tower sale?

30 Oct 2013

The Nigerian unit of UAE-based telecoms group Etisalat is considering a sale of its transmitter towers in a move that could help it cut costs, reports Reuters, citing banking and industry sources familiar with the matter. Etisalat Nigeria has approached banks with a request for proposal (RFP) for advisory roles on the sale, which could raise around USD400 million, according to the sources. The cellco, which launched commercial services in October 2008, must decide whether to sell and lease back the towers or outsource their management for a fixed period, retaining ownership. TeleGeography’s GlobalComms Database notes that Etisalat is Nigeria’s fourth largest mobile network operator by subscribers, with a total of 15.3 million customers at the end of June 2013, giving it a market share of 12.8%. The sector is led by MTN Nigeria (with a 46.0% share of total subscribers at mid-2013), followed by Globacom (20.9%) and Airtel (18.0%).

Nigeria, Emerging Markets Telecommunication Services (9mobile)