Airtel raises USD 1.3 bln from towers sales in Africa

Mergers, Acquisitions and Financial Results


Bharti Airtel announced that it raised USD 1.3 billion with the sale of its mobile towers in five African countries. The proceeds will go towards reducing debt. In February Airtel said it completed the sale of some towers in Rwanda and Zambia to IHS, and America Tower just announced it completed the acquisition of Airtel towers in Nigeria.

Last month Airtel said a proposed deal with Helios Towers in Tanzania and Chad had expired without a final agreement. Airtel does still work with Helios in other countries. The India-based operator said it is negotiating similar deals for another six countries in Africa.
Source: Telecompaper 2 July 2015