Africa's biggest phone tower firms said to be planning 2018 IPOs

Johannesburg

THREE of Africa's largest telecommunications tower companies plan to pursue share sales in either London or New York early next year, taking advantage of high industry valuations to fund expansion, according to people familiar with the matter.

Closely held IHS Towers, targeting an enterprise value of US$10 billion, plans to list in New York, said the people, who asked not to be identified as the information isn't public.