Helios Towers plans to use an expansion into Oman to further its presence in the Middle East and North Africa, while it is also eyeing a potential deal in South Africa with MTN Group.
Browsing: Kash Pandya
Independent tower operator Helios Towers said on Friday that one of its South African subsidiaries, HTSA Towers, has agreed to buy 65 wireless telecommunications sites from Eagle Towers SA.
Helios Towers’ plans to expand following last year’s London share sale may have been waylaid by the coronavirus outbreak, but the Africa-focused company has $350-million primed and ready for when deal-making can resume.
Helios Towers wants to build a thousand telecommunication towers in South Africa in the next three years as it tries to capitalise on rapid growth in mobile services and shape up for an initial public offering.
Helios Towers has earmarked $100-million (about R1.4-billion) for spending on telecommunications infrastructure in South Africa in the next three to four years.
Helios Towers wants to enter South Africa within the next year, helping the mobile phone tower operator build scale as it prepares for a stock market listing as early as 2019.
Helios Towers is investing tens of millions of dollars in the Democratic Republic of Congo and looking for acquisitions as the African phone-tower operator seeks to move on from a scrapped initial public offering earlier this year.