Emerging markets telecommunications group Millicom, owner of Tigo-branded operations across Latin America and Africa, said it has signed agreements with two institutional investors to sell its entire stake in UK-based Helios Towers for an undisclosed sum. Helios owns towers in six African markets and recently announced an agreement to acquire Omantel’s passive tower infrastructure to establish its presence in the Middle East region.
In a short statement, Millicom confirmed that its transaction to sell its remaining 7.65 percent holding in Helios Towers is subject to customary closing conditions and expected to close on 02 June.
Last month Millicom reached deals to sell its Tanzania and Ghana units as part of a multi-year plan to divest its African operations and focus on Latin America. The company sold its Tanzanian operations to a consortium led by Axian and also signed an agreement along with joint venture partner Bharti Airtel to transfer its stake in Ghana’s AirtelTigo to the government of Ghana.