Mobinil short lists tower companies to four

Mobinil is reported to have selected four companies in a short list of bidders for its mobile towers sale.

Mobinil managing director Ive Gotieh told the Zawya news agency that the company is planning on selecting one of the companies by the end of July.

He confirmed that at least one of the bidders is an Egyptian company, and that as with other such deals globally, the new tower owner will be able to lease capacity to rival mobile networks.

Last year it was suggested that around 3,000 towers could be up for sale, which would have an estimated valuation of US$450 million. The sale, as rumoured, would therefore be for the bulk of the towers, excepting some key units in urban areas.

Mobinil is majority owned by Orange.