Finding the balance: MobiNil’s CFO explains the rationale and strategy behind their tower sale
How MobiNil used the sale of part of their portfolio to reduce debt and manage opex
MobiNil’s deal with Eaton Towers in April 2015 consisted of around 30% of their portfolio (up to 2,000 towers) and raised up to US$131mn. As the first tower deal in the MENA region, all eyes will be on MobiNil and Eaton as the deal progresses to work out which models will work in the region. In this article Kais Ben Hamida, CFO of MobiNil and the lead on the deal, explains how they set out key parameters which enabled them to achieve the right balance between upfront cash and opex.
TowerXchange: Congratulations on the announcement of the landmark first major tower transaction in the Middle East and North Africa!
Kais Ben Hamida, CFO, MobiNil:
We are very pleased with the result.