Eaton Towers to sell to ATC South Africa
Eaton Towers Group announced it has signed an agreement to sell its South African towers to American Tower Corporation (ATC) South Africa for an undisclosed sum.
This transaction is subject to regulatory approval.
“The successful execution of our build-to-suit strategy over the last few years has resulted in a unique portfolio of some 300 towers serving some 600 tenants across South Africa,” said Terry Rhodes, CEO of Eaton Towers.
“The sale, which represents about 5% of Eaton Towers’ total business, will allow us to invest further in the countries where Eaton Towers are market leaders and expand into new markets in Africa.”
Eaton Towers said the South African market of some 30,000 towers is dominated by the telecoms and broadcast organisations, which own over 90% of the towers.
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