Bharti Airtel on 15 December 2014 sold over 1100 telecom towers in Zambia and Rwanda to IHS Holding. The amount was not disclosed by the company.
American Tower and Airtel are expected to close the deal during the first half of 2015, subject to regulatory approvals. According to reports, American Towers values the deal at around 1.05 billion US dolla.
This is fourth such deal since July 2014 in the African market. The deal is a part of the 10-year renewable contract, Bharti Airtel will lease back the towers from IHS.
Bharti Airtel entered Africa in 2010 with the acquisition of Zain Telecom for about 10.7 billion US dollar.
In November 2014, Bharti sold 4800 communication towers to American Tower Corporation in Nigeria in an effort to cut debt.
Also, in September 2014, Bharti sold its African telecom tower assets to Eaton Towers. The company signed a 10-year contract to sell and lease back over 3500 towers to Eaton in six countries.
Who: Bharti Airtel
Where: in Zambia and Rwanda
When: 15 December 2014
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.