Tower Xchange Journal of the telecom tower industry in EMEA, CALA and Asia Issue 13 | July 2015 | www.towerxchange.com TowerXchange Africa: < MobiNil sale balances upfront cash and opex < Could Senegal open up to towercos? < The rise of Africa’s middle market towercos TowerXchange Asia: < edotco open up the Bangladeshi market < Case studies on Pakistan and Vietnam < US$10bn worth of Indian towers for sale TowerXchange Europe: < Cellnet and Inwit IPOs landmarks for EU towers < Special feature on Spain and Italy < Why invest in developed market towers? TowerXchange CALA: < Is Cuba ready for towercos? Towers change lives: < Central America: SBA’s success story Infratel develops rural coverage lease option < Colombia, Brazil, Peru and Chile reports Plus: TowerXchange’s latest tower counts and Myanmar tower rollout FAQs Tower Xchange With special thanks to the TowerXchange “Inner Circle” Our informal network of advisers: About TowerXchange TowerXchange is your independent (Chairman) Daniel Lee Chuck Green Kurt Bagwell Managing Director CEO President International community for operators, towercos, investors Intrepid Advisory Partners Helios Towers Africa SBA Communications and suppliers interested in EMEA, CALA Akhil Gupta Suresh Sidhu Jim Eisenstein and Asian towers. We’re a community Chairman CEO Chairman & CEO of practitioners formed to promote Bharti Infratel edotco Grupo TorreSur and accelerate infrastructure sharing. Michel Faivre Hal Hess Riana Donaldson TowerXchange don’t build, operate or invest Directeur Programme Partage EVP, International Operations and Manager: International Network in towers; we’re a neutral community host d’Infrastructure AMEA President, EMEA and Latin America Operations Support Orange American Tower Vodacom and commentator on telecoms infrastructure. Terry Rhodes Nobel Tanihaha Bimal Dayal The TowerXchange Journal is free to Acting CEO President Director COO Eaton Towers PT SOLUSI TUNAS PRATAMA (STP) Indus Towers qualifying recipients. We also provide webinars and regular meetups. Marc Ganzi Umang Das Inder Bajaj President, Digital Bridge & Chief Mentor CEO TowerXchange monetizes this community Mexico Tower Partners Viom Networks Helios Towers Nigeria through hosting annual Meetups and the sale of advertising, without compromising Arun Kapur Maria Scotti Tunde Titilayo Executive Chairman CEO Vice Chairman editorial integrity. Irrawaddy Green Towers Torrecom SWAP International TowerXchange was founded by Kieron James Maclaurin David Meganck Thorsten Schaefer formerly CEO Founder and COO CEO Osmotherly, a TMT community host and edotco Acsys azeti Networks events organizer with 16 years’ experience, Areef Kassam Gary Staunton Jeffrey Eldredge and is governed with the support and advice Director of Infrastructure CEO Partner of the TowerXchange “Inner Circle” – an GSMA Mobile for Development Likusasa Group Vinson & Elkins informal network of advisors Ayman Al Adl Tilak Raj Dua Enda Hardiman Director - TMT Director General Managing Partner © 2015 Site Seven Media Ltd. All rights reserved. Neither the Standard Chartered Bank TAIPA Hardiman Telecommunications Ltd. whole nor any substantial part of this publication may be re- produced, stored in a retrieval system, or transmitted by any Chris Gabriel Nina Triantis Adeel Bajwa means without the prior permission of Site Seven Media Ltd. former CEO, Zain Africa Managing Director, Global, Head of Senior GM of Legal Affairs and Short extracts may be quoted if TowerXchange is cited as the Senior Adviser, Macquarie Group Telecoms & Media Contracts source. TowerXchange is a trading name of Site Seven Media and Chairman, Clean Power Systems Standard Bank Warid Telecom Ltd, registered in the UK. Company number 8293930. 2 | TowerXchange Issue 13 | www.towerxchange.com www.towerxchange.com | TowerXchange Meetup | XX Contents Who’s who in passive 280 infrastructure 281 Directory of over 150 vendor profles 284 New: Treefrog, Total, Camusat and KPR Regular features 5 Ranking the top 141 towercos worldwide 11 Africa tower counts, deals and news Africa: Egypt, Senegal and middle Asia: Bangladesh, Pakistan, 23 Kuwait and KSA: the Zain-Mobily tower sale 81 market towercos 118 Vietnam, India and Myanmar 29 Asia tower counts, deals and news 68 TowerXchange Meetup Africa 2015 118 The emergence of the tower industry in Bangladesh 81 Egypt: MobiNil, Eaton, HOI-MEA and Tirocon views 130 Towershare, edotco and ICONDOR on Pakistan 40 Protelindo expands into microcells 96 An overview of the Senegalese tower market 143 Alcazar on the disaggregated Vietnamese tower market 42 Crown Castle sells Australian towers 107 Middle market towercos: AMN, Atlas Towers & Infratel 151 Towers being built, towers for sale in India & Myanmar 44 Europe tower counts, deals and news 49 CALA tower counts, deals and news 62 PTI acquires T4U in Brazil 63 An analysis of the Lei das Antennas 64 QMC raises capital 65 AMT’s International versus CCI’s domestic focus 203 Latest from listed towercos in Americas TowerXchange Meetup calendar Europe: Cellnex, Inwit and EU CALA: the Caribbean, Central 176 investment opportunities 203 America and Colombia < TowerXchange Meetup Africa, October 1-2, 2015 182 Cellnex IPO a landmark for European towers 213 TowerXchange Americas report: Chile, Peru, Brazil < TowerXchange Meetup Asia, November 24-25, 2015 191 New players: Inwit and its role in the Italian landscape 237 Trilogy and Mott MacDonald on Caribbean towers < TowerXchange Meetup Europe, Q1, 2016 196 Could Inwit and Cellnex merge? 250 Costa Rica shines in the Central American panorama < TowerXchange Meetup Americas, June 13-14, 2016 198 Analysys Mason on investing in developed market towers 267 IFC and Torres Andinas on opportunities in Colombia 3 | TowerXchange Issue 6 | www.towerxchange.com www.towerxchange.com | TowerXchange Issue 13 | 3 Africa’s leading, HTA acquires, builds and manages wireless telecom infrastructure, leasing it to mobile independent, network operators across Ghana, Tanzania telecom tower and the Democratic Republic of Congo. company HTA’s model of shared telecoms infrastructure, and its scale, helps to deliver improved effciency and network quality and reliability for operators, reduced costs for users and increased accessibility. Find out more about our business www.heliostowersafrica.com 6162_HTA_Ad_355x255mm_AW.indd 1 31/10/2012 16:43 Top 141 towercos and infracos worldwide, by estimated tower count Where possible, the tower counts that follow have been verifed through site lists and direct conversation with management between Q3 2014 and Q2 2015. In some cases, counts represent our best estimate. We cannot provide even an estimate for some towercos and infracos, which are listed at the foot of this table. If you would like to suggest an amendment to any of these fgures, please email Empowering tomorrow’s connected world efectively cost-efcient energizing communities empowering communication Connectivity is at the core of everything we do. Providing first-of-its-kind regional accessibility, our telecoms infrastructure reach enables us to touch communities and expand communication www.edotcogroup.com businesses across Southeast Asia. Enabling connectivity for the future Rank Towerco Count Countries Rank Towerco Count Countries USA, Mexico, Guatemala, 31 Towershare 5,000 Pakistan 56 Message Centre Management / 995 Torrecom Nicaragua 32 Ascend Telecom 4,500 India Brazil, Dominican Phoenix Tower International 934 57 33 US Cellular Towers 4,281 USA Republic, Costa Rica, 34 EI Towers 2,700 Italy Panama, USA, Colombia 58 Central States Tower 921 USA 35 TT-Network 2,500 Denmark 59 Q Towers 900 China 36 Digital Bridge 2,300 USA 60 Tower Ventures 894 USA 37 FPS 2,166 France 61 Shere Group 860 UK, Netherlands 38 T-Mobile Towers 2,157 USA 39 IBS Tower 2,079 Indonesia 62 České Radiokomunikace 800 Czech Republic 40 Miteno 2,000 China 63 Sacofa 765 Malaysia 41 Wireless Infrastructure Group 2,000 UK 64 SWAP Telecoms and 700 Nigeria Technologies 42 SEATH (VinaCapital / VNI) 1,930 Vietnam 65 BCTEK 700 Nigeria 43 ASEAN Towers (IGT + Golden 1,838 Myanmar, Vietnam Towers)* 66 Continental Towers 690 Mexico, Dominican Republic, Jamaica, Guatemala, El Salvador, 44 CCA (now owned by MIRA- 1,772 Australia Honduras, Nicaragua, Costa Rica, headed consortium) Panama, Colombia 45 Russian Towers 1,500 Russia 67 Open Tower Company 684 Netherlands 46 Frontier Tower Solutions 1,500 Afghanistan 68 Diamond Communications 636 USA 47 Helios Towers Nigeria 1,300 Nigeria 69 Industrial Communications 635 USA 48 Varsity Wireless 1,288 USA 70 Broadcast Australia 620 Australia 49 Mexico Tower Partners 1,278 Mexico 71 Komet Infra Nusantara 600 Indonesia 50 Pan Asia Majestic Eagle 1,250 Myanmar 72 Axion 580 Spain 51 Digicel MTC 1,250 Myanmar 73 Centennial 565 Brazil, Mexico, Colombia 52 InSite Wireless Group 1,200 USA 74 QMC Telecom 550 Brazil, Mexico and Puerto Rico 53 Apollo Towers* 1,080 Myanmar 75 NMS 465 Colombia, Peru, Mexico, 54 Torres Unidas 1,080 Chile, Peru Nicaragua 55 TriStar Investors 1,000 USA 76 Touch Matrix 460 Malaysia * ASEAN Towers contracted to build a further 1,000 towers in Myanmar and Apollo Towers contracted to build a further 700 towers in Myanmar. Neither included in count yet XX | TowerXchange Issue 13 | www.towerxchange.com www.towerxchange.com | TowerXchange Issue 13 | 7 IN OUR BUSINESS, IT IS ALL ABOUT THE SIGNAL. TOWER OWNERSHIP LEASING SITE MANAGEMENT SITE DEVELOPMENT CONSTRUCTION FLORIDA HEADQUARTERED. INTERNATIONALLY CONNECTED. Our clients depend on SBA to provide the wireless infrastructure that allows them to transmit the signal to their customers. As their frst choice provider of wireless infrastructure solutions, we are continuously setting the standard for customer satisfaction by “Building Better Wireless”. 800.487.SITE sbasite.com © 2015 SBA Communications Corporation. All Rights Reserved. The SBA logo, Your Signal Starts Here, Building Better Wireless and SBA Sites are all registered trademarks owned by SBA Telecommunications, Inc. and affiliated SBA companies. Rank Towerco Count Countries Rank Towerco Count Countries 77 CTI Towers 457 USA 101 Pegasus Tower 173 USA 102 Perak Integrated Networks 150 Malaysia 78 Retower 450 Indonesia 103 HIGHPOINT (obelisk) 150 Ireland 79 Sprint Sites USA 435 USA 104 Asia Space 137 Malaysia 80 Towercom 400 Ireland 105 Tocsa 130 Costa Rica 81 ESB Telecos 400 Ireland 106 Collite 130 Ireland 82 Emitel 377 Poland 107 Hi3G 125 Denmark 83 Cell Site Solutions 350 Brazil 108 Communication Enhancement 124 USA 84 D’harmoni 346 Malaysia 109 Desabina 118 Malaysia 110 Hotspot Network 100 Nigeria 85 KJS 309 Malaysia 111 Melaka ICT Holdings 95 Malaysia 86 Brazil Tower Company 300 Brazil 112 Falck 75 Denmark 87 TowerCo of Madagascar 300 Madagascar 113 Intelli Site Solutions 58 Mexico 88 Square1 Infrastructure / MIG* 300 Nigeria, South Africa, 114 Torre Online 51 Brazil Myanmar 115 Skysites 40 Brazil 89 Subcarrier Communications 300 USA 116 Telecom Torres 40 Brazil 90 Common Tower 260 Malaysia 117 HOI-MEA 40 Egypt 91 Skyway Towers 250 USA 118 Stout & Company 38 USA 119 Pro High Site Communication 10 South Africa 92 IIMT 250 Mexico 93 Branch Communication 226 USA Undisclosed counts 94 Innovattel (Torresec) 209 Peru, Ecuador, Colombia, 3GIS, Sweden Secured Towers, Nigeria Puerto Rico Antenna Hungaria, Hungary Shared Networks Tanzania, Tanzania Atlas Tower, USA, South Africa Staghorn Infrastructure, USA 95 Balitowers 208 Indonesia AWAL Telecom, Pakistan Summit LatAm, tbc CALA Azerconnect, Azerbaijan SUNAB, Sweden 96 Infra Quest 201 Malaysia Catalina Inc, Costa Rica Tarpon Towers, USA 97 Link Development 200 Russia Communication Towers Nigeria, Nigeria TASC Towers, Jordan Digita, Finland Torres Andinas, Colombia, Peru 98 Yikedbina 200 Malaysia Eco-Friendly Towers*, Myanmar Towercast, France Infratel, South Africa TowerCo, USA 99 Highline do Brasil 200 Brazil ITAS TIM, France *Eco Friendly Towers awarded a contract to build Net4Mobility, Sweden 700 towers in Myanmar 100 Grain Management 188 USA * MIG contracted to buid 500 towers in Myanmar. Not included in count yet XX | TowerXchange Issue 13 | www.towerxchange.com www.towerxchange.com | TowerXchange Issue 13 | 9