MTN Sells Towers After Tigo, Vodafone Outsources
Ghana’s telecoms companies are selling their transmission towers. The latest to do so is MTN Ghana. In January Tigo sold its towers to Helios Africa, while Vodafone Ghana outsourced its towers to Eaton Towers in October 2010. MTN Ghana has sold its transmission towers to Boston based antenna operator American Tower Corporation. Information from the global telecoms industry available to ghanabusinessnews.com says MTN is setting up a joint venture with TowerCo Ghana, American Towers’s new Ghana subsidiary to manage the telecoms provider’s 1,876 transmission towers in Ghana. TowerCo Ghana is expected to pay as much as $428.3 million to MTN Ghana for the 1,876 transmission towers, according to the information and American Tower will pay $218.5 million for 51% of the new company and MTN Ghana will own the rest. The transaction is expected to be completed by early 2011. In January 2010 ghanabusinessnews.com published this story saying Tigo had sold approximately 750 towers to Helios Towers Ghana (HTG), a direct subsidiary of Helios Towers Africa. In October 2010 Vodafone Ghana outsourced its towers to Eaton Towers. The telecoms provider signed a 10-year deal with London-based Eaton Towers. The deal will allow Eaton Towers to take-over 750 telecommunications towers belonging to Vodafone in Ghana .
Source: Ghana Business news.com