US firm in $430m SA mobile tower deal

first_img5 November 2010South African mobile operator Cell C is to sell 3 200 of its cellular base stations to US firm American Tower Corporation for around US$430-million (about R2.9-billion).Cell C will be the anchor tenant on each of the telecommunications towers purchased by Boston-based American Tower, including 1 400 existing towers and up to 1 800 additional towers that are either under construction or will be constructed over the next two to three years.“This is an important strategic transaction for Cell C, allowing us to realise the value embedded in our passive infrastructure, which has undergone a significant transformation over the past few years,” Cell C CEO Lars Reichelt said in a statement this week.“We believe our relationship with American Tower will enable us to further enhance the quality and coverage of our network.”Platform for future growthAmerican Tower, which is listed on the New York Stock Exchange, is an independent owner, operator and developer of broadcast and wireless communications sites.It currently owns and operates approximately 33 000 communications sites in the United States, Brazil, Chile, Colombia, India, Mexico and Peru.“We are pleased to announce the launch of our operations in South Africa, as well as the opportunity to work with Cell C,” American Tower CEO Jim Taiclet said this week. “We believe South Africa provides a compelling investment opportunity for us, with strong demand for voice and advanced wireless data services.“In addition, our newly established presence in South Africa will provide us with a platform for our future growth in the region.”American Tower and Cell C expect to close the sale of the existing towers by early 2011, subject to customary closing conditions.SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

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10 Days of mourning for Mandela

first_imgAs we share in our grief and celebrate his life, let’s pass on our support to Madiba’s family. You can post a personal message via the Nelson Mandela Foundation or add your tributes and memories on the official South African government Facebook page.  For the official services and funeral arrangements, information will be updated here regularly.Press release 13 December: Heads of State and Government to attend State Funeral Service in Qunu, Eastern CapePress release 8 December:  Nelson Mandela State Funeral UpdatePress release 9 December: The board of Brand South Africa pay respect to Nelson Rolihlahla MandelaProgramme for memorial at FNB stadium [PDF, 1.16Mb]Nelson Mandela Family StatementCity of Tshwane: The World descends upon Tshwane as  South Africa’s Capital City prepares to receive and host President Mandela’s mortal remainsTribute by President Jacob ZumaGovernment has recognised the overwhelming response of the nation to the passing of former President Nelson Mandela.  We thank the nation for responding to the call to sign condolence books at various sites and for posting messages of support to social networking sites.We have introduced a further option through which messages of love and support could be expressed on 0800 314 446.  Your messages will be recorded, shared with the family and the President and archived for further generations.Play your Part by celebrating and honouring the life’s work of our dearly departed Tata Madiba.Click here for larger versionlast_img read more

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