America Tower Corporation announced its deal with Telkom Kenya to acquire 723 transmission towers.
The company did not disclose the financial details of the telecom tower deal in Africa. Earlier, America Tower said its revenue will be impacted due to the consolidation in the Indian telecom industry.
Telkom Kenya is 60 percent owned by London-based Helios Investment Partners. Telkom Kenya is Kenya’s third-biggest telecoms company by users.
The deal represents American Tower’s entry into its fifth African country and 17th worldwide.
“The sale will release capital for further investment in our 4G network and a number of state-of-the-art IT platforms, all of which will further enhance services for our customers,” Telkom Kenya CEO Aldo Mareuse said.
Telkom Kenya and the local unit of Indian-owned Bharti Airtel have a combined 23 percent of Kenya’s 41 million mobile subscribers but have struggled to compete with sector leader Safaricom, which has a 71.9 percent market share.