MobiNil tower sale delayed

1 Nov 2013

Orange subsidiary MobiNil has postponed the deadline for bids for its mobile tower portfolio in order to allow prospective buyers more time to put together bids, TMT Finance writes. The cellco has hired Lazard to manage the sale process for Orange and had invited potential investors to submit binding offers by the end of October but has now delayed that deadline until early December. As previously noted by CommsUpdate, Accelero Capital, the venture capital firm owned by Egyptian tycoon Naguib Sawiris, is thought to be in the running to buy the 3,000 towers, valued at between USD200 million and USD300 million. 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.

Egypt, Orange Egypt