UK-based Helios Towers has announced the signing of an agreement between one of its South African subsidiaries, HTSA Towers and Eagle Towers SA to acquire 65 wireless telecoms sites in South Africa and to collaborate on future business
The company said a significant majority of the tenancies of these sites are with Africa’s largest mobile network operators. The transaction is expected to close in the second quarter of 2020 and is subject to customary closing conditions.
This transaction is aligned with the group’s stated strategy to expand its geographic footprint, adding additional towers to the portfolio that has been acquired and built-out in South Africa since HTSA was set up in 2019.
This acquisition enables HTSA to increase its network reach and offering to customers in the Western Cape Region of South Africa.
Kash Pandya, CEO of Helios Towers, said, “We are delighted to announce the acquisition of this new site portfolio, through our joint platform with Vulatel in South Africa. We look forward to continue delivering on our strategy of providing MNOs with high quality, reliable and cost-effective open-access tower infrastructure in South Africa.
“South Africa is a strategic market for Helios Towers, and we are keen to leverage our expertise in tower infrastructure to expand there, both organically and through acquisitions.”
Avril Van Der Rheede, CEO of Eagle Towers, said, “We are delighted to partner with Helios Towers on this transaction and look forward to our future business relationship.”
