American Tower buys Eaton, JV stakes from MTN
AMERICAN Tower, which owns and manages about 177,000 mobile towers in multiple markets around the world, has strengthened its portfolio in Africa with the completion of its Eaton Towers acquisition and a new deal to take control of joint venture assets that had been co-owned with network operator MTN.
The $1.85bn deal to acquire Eaton Towers, which was first announced in May 2019, adds 5,700 sites in five markets (Ghana, Uganda, Kenya, Burkina Faso and Niger) to its African portfolio, according to Connecting Africa.
The deal strengthens American Tower’s relationship with key major mobile operators in Africa, including Airtel, orange, MTN and Vodacom, that lease space on the towers for their radio access network equipment deployments.
The $52m agreement to acquire MTN’S minority stakes in two joint ventures, one in Ghana and the other in Uganda, will give American Tower full control over the tower assets in those countries, and enables the towers specialist to manage them alongside the assets acquired from Eaton.
The sale of the stakes is expected to be completed during the first quarter of this year.
The joint venture in Ghana, called Towerco Ghana, was set up in 2010, with MTN holding a 49 per cent stake.