Bharti tower deal could fetch USD500m in Nigeria
Indian group Bharti Airtel may sell off its mobile network tower infrastructure in Nigeria for around USD500 million by April, according to a report by the Economic Times, which cites industry sources.
The company is looking to sell a package of around 15,000 mobile towers across several African countries (including approximately 4,000 in Nigeria) for up to USD2 billion, while in a separate deal Bharti has also reportedly received potential buyer interest for its 4,000 tower assets in Bangladesh, which could raise up to USD200 million.
In a report earlier this week, the Indian newspaper quoted sources as saying that US and Middle Eastern tower management companies — in some cases backed by financial investors — have bid for both the Bangladesh and African assets. However, when contacted for details on the rumoured deal, a Bharti spokesperson responded to enquiries with: ‘As a company policy, we do not comment on market speculation.’