African towerco Helios Towers Africa (HTA) is thought to be holding discussions to acquire Millicom’s towers portfolio in Chad, TMT Finance understands. Millicom’s Chad operations, which is Chad’s largest mobile operator, has a portfolio totalling 800 towers, which could be valued at up to US$80m, sources said.
Millicom has an existing relationship with HTA, having divested towers in other countries to HTA and its various regional subsidiaries, in Ghana, Tanzania and DRC. HTA is thought to have first right of refusal for other Millicom tower assets, sources commented.
Millicom is likely to be self-advising on the transaction. It’s not clear if HTA has mandated a financial adviser, although the towerco hired Standard Chartered for its prospective acquisition of towers belonging to Bharti Airtel across Africa, TMT Finance previously reported.
Source: TMT Finance