Etisalat seeking buyers for Zantel Tanzania or for Tanzanian towers
TowerXchange understands that Etisalat is concurrently seeking a buyer either to acquire Tanzanian subsidiary Zantel, of which Etisalat owns 65%, or to acquire the 600-700 towers Zantel has in the region. Standard Chartered have been appointed as Etisalat’s advisors.
Helios Towers Africa would be favourites to acquire Zantel’s towers, if sold separately, as Chuck Green’s pioneering towerco acquired a 60% stake in a joint venture with Millicom-Tigo in 2010, to which Millicom-Tigo’s 1,020 Tanzanian towers were transferred.
Market conditions in Tanzania appear very favourable to the towerco business model. Tanzania has four licensed tier one mobile network operators; Etisalat’s Zantel, Airtel, Vodacom and Millicom Tigo.