Telecom network operator Millicom today said it will hold 24 percent equity stake in Helios Towers Africa.
Millicom will exchange shares which were previously held in HTA’s tower companies in Ghana, DRC and Tanzania, into shares in HTA’s parent company.
Helios Towers acquired, through its different operating companies, 2,450 Millicom-owned towers in Ghana, DRC and Tanzania in 2010. Millicom retained equity stakes in the individual tower companies at that time. Millicom is exchanging these equity positions for shares in HTA.
Recently, Helios Towers raised US$363 million in new equity from existing and new shareholders to fund acquisitions and new growth in existing markets.
Millicom, which has 59 million subscribers in Latin America and Africa, generated revenue of $6.4 billion and EBITDA of $2.1 billion in 2014.
Helios Towers has 5,000 towers under ownership and management. It operates in Ghana, Tanzania, the Democratic Republic of Congo and the Republic of Congo.
