Bharti Airtel to sell African tower assets at $1.5-$2 billion to ATC and Eaton Towers

Bharti Airtel is planning to sell its tower assets in several African countries, including Nigeria, Ghana and Uganda, at an estimated value of $1.5-2 billion. The company is holding discussions with American Tower Corporation and Eaton Towers for the same.  Airtel intends to use the proceeds from the deal for reducing its debt, which stood at Rs 577.44 billion for the quarter ended June 2014.

Earlier is July 2014, Airtel sold 3,100 telecom towers in four African countries to Helios Towers Africa, following which the company?s portfolio includes 14,500 towers in the region.

Eaton Towers offers tower sharing on more than 1,500 towers in Ghana, Uganda and South Africa, whereas ATC provides its services in these African countries.