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Airtel to Sell its Towers to ATC in Tanzania

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Bharti Airtel has signed an agreement with American Tower Corporation to sell 1,350 of its towers for around $180 mn in Tanzania. The transaction, signed by Bharti Airtel through its subsidiary, Airtel Tanzania Ltd, is expected to close during the first half of 2016, subject to customary closing conditions and regulatory approvals, the two companies said in a joint statement on Monday.

“The proposed transaction is a continuation of our stated philosophy of divesting passive infrastructure assets and promoting sharing of towers to enhance operational efficiencies that will further overall growth of telecom services,” Christian de Faria, Bharti Airtel’s MD & CEO (Africa), said. Read more

 

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Sweekar S

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