Bharti Airtel Sells Towers in Africa

Bharti Airtel, a leading private sector telecom company, announced that the company has divested about 8,300 towers in seven African countries for a consideration of approx United States dollars 1.7 billion.

In July this year, it said that it is in talks with French telecom company Orange to sell total telecom operations in four African countries. The sale process is on in two more countries.

Its debt stood at $10.68 billion at the end of June.

“The total value of proceeds from all the concluded transactions in these seven countries is over Dollars 1.7 billion and is being utilised for reducing the debt of the company”. Loss in the region nearly doubled while revenue marginally decreased from Rs 27,200 crore for the previous year. The company has around 14,000 mobile towers in Africa and has chose to exit the tower business as part of measures to cut down debt and make the business viable.

September to sell 3,500 towers. The deal would have expanded its coverage in Africa to seven countries with over 5,000 towers.

Eaton Towers presently owns and operates towers in Ghana, Uganda and South Africa.

The move was made to drive cost efficiencies in both the companies through the use of shared passive infrastructure.

Airtel also said that “tower sales” is a strategic priority for the company and it would complete the sale of remaining towers in due course. IHS will be rolling out its renewable energy solutions across the Airtel network.