Millicom, a leading telecom and media company that is serving more than 56 million subscribers in Africa and Latin America has signed an agreement to own 24% of shares in Helios Towers Africa (HTA). HTA is an independent telecommunications towers companies in Africa with over 5000 towers under its ownership and management in Ghana, Tanzania, the Democratic Republic of Congo (DCR) and the Republic of Congo.
As a result of the reorganisation, 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. According to a statement by Milicom, the transaction will simplify the share ownership structure of HTA, align interest among shareholders and move Millicom’s shareholding to the parent HTA company.
June this year, Millicom signed an agreement with the Etisalat Group to acquire an 85% stake in Zanzibar Telecom (Zantel), the leading mobile telecom operator on the islands of Zanzibar.
