Helios Towers plc reached an agreement with Airtel Africa to acquire its passive infrastructure operating companies in Madagascar and Malawi and enter into exclusive memorandum of understanding arrangements for the potential acquisition of its passive infrastructure assets in Chad and Gabon. The total price for the passive infrastructure companies in Madagascar and Malawi is $108 million.
This represents 2,227 existing mobile tower sites across Madagascar, Malawi, Chad and Gabon. The deals are expected to make Helios Towers the largest independent telecommunications infrastructure company in each of Malawi, Chad and Gabon with strong market share in Madagascar.
Helios Towers said all four nations – Madagascar, Malawi, Chad and Gabon – represent compelling markets for telecoms with a combination of a young, growing and increasingly urbanised populations plus high GDP growth.
