Helios Towers Tanzania announced plans to buy 100 percent of Vodacom Tanzania’s existing tower network for stock and cash, a move that represents Vodacom Group’s first-ever towers transaction, according to a report in AfricanBusinessReview.

HTT is a subsidiary of Helios Towers Africa, an independent telecom towers company. Vodacom is a leading African mobile network operator.

The partnership involves the transfer of 1,149 existing telecoms towers from Vodacom to HTT and commitment to an ambitious, short-term rollout that includes adding points of service owned by HTT and more than doubles HTT’s presence in Tanzania.

HTT will acquire all Vodacom’s existing passive infrastructure and will supply Vodacom with more points of service in Tanzania. Vodacom will lease back the infrastructure. HTA will provide close to 2,700 points of service to Vodacom and affiliates across Africa.

The deal will expand HTA’s tower coverage in Africa to 4,700 owned towers. HTA’s model is partnering with industry-leading mobile network operator in Africa, the report says.

Its goals include reducing operating costs, saving money and “mitigating the proliferation of towers” through infrastructure sharing as the company grows, the report said.

Vodacom will own a 24.5 percent share in HTT subject to regulatory approvals.

Chuck Green, HTA CEO, said: “HTA is proud to be chosen by Vodacom as its partner for the ownership and management of its existing infrastructure and as the solution provider for its future roll out.

“This is a ground-breaking move for Vodacom and their equity investment is a significant endorsement of HTA’s reputation, management team and operating track record.”