MobiNil announces deal with Eaton for acquisition of around 2,000 towers at a value of US$131.15 million
First North African tower deal could spark more activity in a thus-far dormant MENA market
Monday 25 July: After the failure to meet the 21 July deadline for conditions laid out in the sale of MobiNil’s towers to Eaton, Orange has decided against extending the deadline and effectively cancelled the agreement to sell the portfolio.
Congratulations to Eaton Towers on securing 2,000 highly coveted towers from MobiNil in Africa’s second largest tower market! Commentators who once cast Eaton as the laggards of the ‘Big Four’ African towercos have long since amended their view, and this latest deal, combined with the imminent close of acquisitions from Airtel in six countries, gives Eaton impressive scale and diversity.