Telecom Egypt has been in talks with several local and foreign companies for a potential sale leaseback of a significant portion of its tower portfolio, with bids reportedly ranging from US$150m to US$250m for approximately 2,500 of Telecom Egypt’s 2,800 towers. This puts Telecom Egypt’s valuation per tower at between US$60,000 – US$100,000.
These 2,500 sites are understood to be around 50% macro towers and 50% rooftop sites, with most of the network in urban areas. The deal is also understood to include a build-to-suit commitment of 1,500 – 2,000 sites.
Local newspaper Daily News Egypt reported that three bidders were involved in the process; IHS Towers, Helios Towers and local towerco Mobi Tower.
