President Barack Obama works on his State of the Union Speech with Director of Speechwriting Jon Favreau in the Oval Office, Jan. 24, 2011. (Official White House Photo by Pete Souza)
With pen in hand, President Barack Obama sits at the Resolute Desk in the Oval Office as Staff Secretary Lisa Brown organizes a stack of 35 bills for him to sign into law, Jan. 4, 2011. (Official White House Photo by Pete Souza)
President Barack Obama talks with Vice President Joe Biden in the Oval Office while National Security Advisor Tom Donilon and Counsel to the President Bob Bauer confer in the Outer Oval Office, Jan. 5, 2011. (Official White House Photo by Pete Souza)
President Barack Obama talks on the phone with King Abdullah of Saudi Arabia during a call in the Oval Office, Jan. 11, 2011. John Brennan, Assistant to the President for Homeland Security and Counterterrorism, is at right. (Official White House Photo by Pete Souza)
Private equity backed telecommunications towers manager, Helios Towers Africa (HTA) is to acquire 1,020 towers from of Millicom Tanzania in a deal valued at more than $80million.
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The transaction will see HTA’s Tanzanian entity Helios Towers Tanzania (HTT) acquire rights to build and maintain towers to support Millicom’s wireless network expansion plans. Millicom will retain a significant minority interest in HTT.
HTA is backed by Albright Capital Management, Soros Strategic Partners, RIT Capital Partners and Helios Investment Partners, as was set up to build, maintain and lease wireless telecommunications towers across Africa.
“HTT enables Tanzanian wireless operators to outsource non-core tower-related activities and focus capital and management resources on providing higher quality services more cost-effectively,” said Charles Green, HTA’s chief executive officer.
The deal comes just after HTA closed a similar deal with Tigo Ghana. Helios is mulling plans to enter into agreements with other operators in Tanzania.
