United Arab Emirates’ telecom provider, Emirate’s Telecommunications, or Etisalat, revealed on Tuesday that it was looking to off-load mobile phone towers it currently owns in Africa. The sale could generate upwards of $600 million, the company said in comments to the Wall Street Journal.
The move is likely to see the company use the money to invest in other areas in Africa, including bidding on a number of mobile phone licenses across the continent, sources close to the company told the Journal.
In Cairo, where Etisalat is the third mobile operator, officials close to the company told our reporter that the move was part of the company’s efforts to increase liquidity and push for greater investment in the region and in Africa.
Joseph Mayton
