Bharti Airtel Raises Around $2 Billion from Towers Sale
Published on: 10th Jul 2014
Note -- this news article is more than a year old.
Bharti Airtel has announced plans to sell around 3,100 telecoms towers in four countries to pan African tower operator, Helios Towers.
Bharti Airtel, which has been looking to sell towers in its African portfolio for a while did not say which countries the sales took place in, nor how much the deal is worth.
However, a sale of that volume is thought to be worth up to USD2 billion, which the India based company said it would be using to repay debt.
The deal will expand Helios Towers' tower coverage in Africa to over 7,800 owned towers.
The agreement also envisages that tower operations-related personnel will be transferred from Airtel to Helios Towers.
As usual, Helios will take on a lease from Aitel as the lead tenant, and will then sublet capacity to rival networks.