MobiNil said to have found buyer for mobile towers

24 Nov 2014

A long-expected sale of the towers belonging to Egyptian Company for Mobile Services (MobiNil) is said to have reached a conclusion, according to TMT Finance. It has been claimed that Eaton Towers has acquired the portfolio, following an auction-style sale process run by Lazard, though no financial details of the deal were mentioned.

As previously reported by CommsUpdate, back in May 2014 MobiNil’s parent company, Orange Group, confirmed that its Egyptian unit was ‘well advanced’ with plans to sell off some of its wireless towers. At that date Sebastien Audra, a spokesman for the Paris-based company, was cited as saying that negotiations related to the infrastructure divestment were moving in to the final stages, though it did not make public information regarding potential buyers, nor did it confirm how many towers were actually being sold.

Egypt, Eaton Towers, Orange Egypt