Bharti tower deal could fetch USD500m in Nigeria

Mergers, Acquisitions and Financial Results

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.’