Reliance Jio is gearing up for its full commercial launch of its services across the country and is all set to rattle India’s data market by offering 4G data at lowest rates in the world. “Mission of Reliance Jio is to take India from data shortage to data abundance. Jio makes India the highest quality, lowest…
Bharti Airtel will sell over a fifth of its telecom tower portfolio in Africa to Helios Towers Africa (HTA), as part of its overall strategy to sell-off its 15,000 towers to a clutch of independent tower companies.
The two companies didn’t disclose the size of the 3,100-tower deal but, in a joint statement Wednesday, said that the proceeds would help Bharti Airtel pare debt. The pact would also reduce the world’s fourth largest telecom company’s ongoing capital expenditure on passive infrastructure and help it focus on its core telecom business and customers.
The two companies also didn’t disclose the four countries where the towers which are part of the agreement are located. At present, HTA operates in Ghana, Tanzania and the Democratic Republic of Congo.
As reported by ET, the Indian telecom major has been trying to sell its tower portfolio for the past year, under pressure from the high costs of running the infrastructure that have been weighing down Airtel’s consolidated results.
People familiar with the matter had told ET the overall deal for all the towers could be between $2.5 billion to $3 billion. Original post at The Economic Times