According to Bloomberg, Madagascan telecoms firm Telecom Malagasy (Telma) has asked investment bank Lazard to explore options for the complete disposal of its business or the divestment of its portfolio of 500 towers, believed to be valued at between US$50-70million. Several towercos are said to be interested. Telma recently created one of Africa’s first operator-led towercos, TowerCo of Madagascar, to which 100 sites were transferred.
Telma competes with Bharti Airtel, who hold a similar number of towers, and Madagascan market leaders Orange who have an estimated 700 sites.
According to BuddeComm, mobile penetration in Madagascar remains at a modest 47%.
