AfricaTel, a newly formed holding company aggregating all of the sub-Saharan Africa telecommunications assets of the Portugal Telecom Group (principally in Angola, Namibia, Cape Verde, Sao Tome), in a leveraged recapitalization valuing AfricaTel at $1.15 billion on a total enterprise value basis. Helios and Portugal Telecom are spearheading AfricaTel's efforts to consolidate and grow the existing businesses, while selectively evaluating opportunities to expand the company's geographic footprint within sub-Saharan Africa.
AfricaTel was acquired by Helios Investment Partners on August 13, 2007.
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