Telecoms giant, Bharti Airtel said it had raised $1.3 billion with the sale of its mobile towers in five African countries from Helios Towers, IHS Plc and American Tower Company. According to them, the proceeds will go towards reducing the $10 billion debt used in its African operations in 2010.
Last month, Airtel said a proposed deal with Helios Towers in Tanzania and Chad had expired without a final agreement. Airtel does still work with Helios in other countries. The India-based operator said it was negotiating similar deals with six other countries in Africa. Under the original agreement, Airtel said it would sell around 3,100 towers in four countries to Helios.
Helios on its part said in a statement that it “places great value on its business partnership with Airtel and will continue to work with them in Tanzania and elsewhere, including Congo Brazzaville where HTA recently closed a similar transaction with Airtel.”
In February, Airtel said it completed the sale of some towers in Rwanda and Zambia to IHS, and America Tower just announced it completed the acquisition of Airtel towers in Nigeria. Airtel said the deal will see Airtel mobile subscribers enjoy more stable networks, higher network uptimes in which to make calls and a more universal service across the country.
