Independent tower operator Helios Towers said on Friday that one of its South African subsidiaries, HTSA Towers — a joint venture with Vulatel — has agreed to buy 65 wireless telecommunications sites from Eagle Towers SA.
The companies will also collaborate in future, Helios said in a statement.
“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,” it said, without disclosing the deal value.
“This transaction is aligned with the group’s stated strategy of broadening its geographic footprint, adding further towers to the portfolio acquired and built in South Africa since HTSA was established in 2019.”
The towers acquired are located in the Western Cape.
Helios Towers CEO Kash Pandya said South Africa is a strategic market for the group. “We are keen to leverage our expertise in tower infrastructure to expand there, both organically and through acquisitions.”
The group has a portfolio of 7 000 towers in five countries in Africa, including Tanzania, the Democratic Republic of Congo, Congo-Brazzaville and Ghana. It listed on the main board of the London Stock Exchange in October 2019 and is a member of its FTSE 250 Index. — (c) 2020 NewsCentral Media