Bharti Airtel has announced that it has sold around 8,300 towers in Africa for $1.7 billion, which is to be used to pay down the company's debt.
"As on date we have completed the sale transactions in seven countries for approximately 8,300 towers representing close to 60 percent of the total tower base," Airtel said in a statement.
Bharti Airtel has around 14,000 mobile towers in Africa.
"The total value of proceeds from all the concluded transactions in these seven countries is over $1.7 billion and is being utilised for reducing the debt of the company," the statement said.
Agreements to sell towers have lapsed in four countries while the process is on in two countries, it added.
Bharti Airtel Sells Towers in Africa
Comms Week22 Oct 20150 Comments
Bharti Airtel has announced that it has sold around 8,300 towers in Africa for $1.7 billion, which is to be used to pay down the company's debt. "As on date we have completed the sale transactions in…
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