How to evaluate emerging market towers

A conversation with Citi’s veteran emerging market tower deal advisor Gulfraz Qayyum

Read this article to learn:

  • How to retain buyer confidence: ensure buy in, validate your tower database and separate passive from active infrastructure costs
  • Overcoming challenges around land leases and titles
  • How towercos identify which sites have wind-load capacity for colocation, and calibrate this against augmentation capex
  • Why the unique cash flow and risk characteristics of each deal are more important inputs into valuations than multiples of TCF
  • Why the MENA tower market has been nascent and where the first deals may take place in the region

Gulfraz Qayyum is a Managing Director in Citi’s TMT investment banking practice, covering the EMEA region, with responsibility for their business in the Middle East and Africa.  He has been advising telecom companies on M&A and capital raising deals for over 15 years, and he has worked on a number of sellside, buyside and financing…

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